Bioelectronics Corp (OTCMKTS:BIEL) Keeps Falling

[[tagnumber 0]][[tagnumber 1]]The stock of Bioelectronics Corp (OTCMKTS:BIEL) was highly illiquid until quite recently. In the end of last week we saw the ticker make two giant leaps that pushed it out of triple–zero land and led it to a high of $0.002.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But the price wasn’t the only thing that suddenly increased. We also saw a massive increase in daily volumes. Monday’s session saw a trade value of $1.38 million, making [[tagnumber 6]]BIEL[[tagnumber 7]] one of the most traded penny–stocks. Unfortunately, the ticker is going down the charts almost as quickly as it got up and might return to its previous levels very soon.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But this wouldn’t be surprising, despite the fact that [[tagnumber 6]]BIEL[[tagnumber 7]] is generating respectable revenues.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $29 thousand[[tagnumber 19]] [[tagnumber 18]]current assets: $668 thousand[[tagnumber 19]] [[tagnumber 18]]current liabilities: $5.46 million[[tagnumber 19]] [[tagnumber 18]]quarterly revenues: $675 thousand[[tagnumber 19]] [[tagnumber 18]]quarterly net loss: $732 thousand[[tagnumber 19]] [[tagnumber 28]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although the revenues are pretty decent we see that the other figures contained in the company’s balance sheet aren’t that encouraging. But that’s far from the biggest red flag. As we previously wrote, the company’s authorized share count grew from [[tagnumber 6]]750 MILLION[[tagnumber 7]] to a whopping [[tagnumber 6]]11 BILLION[[tagnumber 7]] since 2009.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The issuance of shares hasn’t stopped and has called for such drastic measures, but the dilution of the shareholders has been massive. This is why [[tagnumber 6]]BIEL[[tagnumber 7]] is losing altitude fast and dropped into triple–zero land once again after losing 10% and falling to a close at $0.0009 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker keeps falling in today’s session as well and it might be attracting some short–sellers. Whatever the case, you should always be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]