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BioElectronics CEO Andrew Whelan: Positioning the Company for Growth During 2008 and Beyond
Date:4/14/2008

bariatric patch products. In many cases, these product redesigns were completed in conjunction with the many plastic surgeons that are beginning to heavily rely on our products.

Manufacturing -- During 2007, we transferred all of our manufacturing offshore, which resulted in a significant cost savings for the company. We are estimating this change will result in a 75% reduction in cost of goods sold, allowing us to reduce manufacturing costs to only approximately 20% of the end retail price. We expect this move to significantly impact the financials of the company during 2008 and beyond.

Distribution -- Early in 2007 the management team at BioElectronics performed a thorough analysis of our distribution strategy and worked diligently throughout the year to change what was not working while preserving the areas where we were showing positive results. We are happy to say these efforts have yielded significant successes. During 2007, we signed more than 20 new international distributors in important countries such as Italy, Mexico, United Kingdom, Netherlands, Turkey, Singapore, Canada, Malaysia, Panama, and Kuwait, among others. We have also had considerable success in signing and training domestic sales agents with more than 70 signing on to carry our products during 2007 and early 2008.

Clinical Trials -- One of our major goals during 2008 is to complete clinical trials in order to expand the use of our product within the United States. While it is still too early to comment publicly on our exact plan relative to this area, we are currently in negotiations with several entities of import. Our overall long-term goal is to receive full approval from the US Food and Drug Administration to allow our products to be sold over the counter within the United States. We urge shareholders to stay tuned over the coming quarters as we announce developments in these areas.

In summary, 2007 was a year of significant change at BioElectronics Corp. We no
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SOURCE BioElectronics, Corp.
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