FREDERICK, Md., March 20, 2014 /PRNewswire/ -- BioElectronics Corporation (OTC Pink: BIEL), the maker of advanced consumer medical devices, announced today that the Depository Trust Company has determined to end the deposit transaction restriction (the Deposit Chill) it had previously placed on shares of BioElectronics.
The Company said it was notified of the Depository Trust Company's decision in a letter via email to James D. Pierce, Esq. of Sugarland, Texas has represented the corporation in this matter. The letter from DTC counsel Donald Maj said that the DTC has "resumed accepting deposits of the Issue for deposits and book entry transfer services."
"We are pleased that the DTC has decided to remedy this situation which has been an inconvenience and burden on our shareholders," said Richard Staelin, Chairman of the Board of BioElectronics Corporation and the Edward and Rose Donnell Professor of Business Administration at The Fuqua School of Business, Duke University.
"We expect that our shareholders will soon see an improvement in the trading environment as the news of this action is acted upon by the brokerage community."
About BioElectronics Corporation
BioElectronics Corporation is a leader in biophysics and the maker of an industry leading family of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; Allay® Menstrual Pain Therapy; and HealFast® Therapy for dogs, cats and horses. For more information, please visit www.bielcorp.com.
SOURCE BioElectronics Corporation