Premier Biomedical Inc (OTCMKTS:BIEI) Still Looking For Answers

Premier Biomedical Inc (OTCMKTS:BIEI) is one name that is looking to solve many of today's medical problems. The company has targeted cancer, Aids, ebola and now the Zika virus. While all of this is great news, we have plenty of questions and are still looking for answers from the company on how they are going to accomplish all of this.First off, the company describes itself as "a biotech research public company focused on discovering, developing, and commercializing medical treatments for a wide range of diseases in humans." This is a pretty tall order for a company with just a $2 million market cap.Our biggest problem with BIEI has been what we see as deceptive and vague press releases. Take for instance, the February 1 press release announcing a $6 million investment by its joint venture partner. One would think this is a definitive deal; however, it is not. The press release said:

A source inside Auramedi, familiar with the matter, has confirmed the intentions of the Brazilian company to develop the JV, and the possibility of accelerating the investment, once the JV partnership is consummated. “Auramedi’s master plan established that we would invest from 20 to 25 Million Brazilian Real over the next five years, to set up our facility. However, with the advent of the joint venture, this amount could be invested earlier, due to the confidence we have regarding the success potential of this endeavor.” the source said.

Notice there is no official word from Auramedi and no executive is quoted in the press release. It's stated just a source. Why is this? Again, nothing was filed with the SEC detailing any investment, so obviously there is no investment and that the company might be in discussions. Again, hopes dashed.This is not the first time we've had issues with BIEI and its press releases. In January, we said that its $1.6 million financing raised plenty of questions. The company said in the press release that its financing wasn't toxic; however, the 8-K said it was.The latest press release focused on the Zika Virus. It seems the company was watching CNN and decided to put out a press release. It said:

"noted that the CDC reported recently, via CNN, that sexual transmission of the Zika Virus has been identified in 14 additional cases. As a result of this information, Premier Biomedical is considering their priorities to investigate accelerated development of their patented extra-corporeal (outside the body) process in an effort to generate an effective treatment for the Zika virus. The envisioned treatment is a variation of their patented process, initially developed to treat viruses like AIDS and Ebola."

Besides a quote from the CEO, there was nothing else to the press release. The previous press release said that the company was simply "optimistic" that its patented methodology would be effective in treating dengue and Zika Virus. The company said:

"that they believe their recently patented (U.S. Pat. #9,216,386) treatment methodology, in conjunction with pending provisional patent applications, can be effectively used in treating Zika, and Dengue as well as other serious viruses. Premier, together with their Brazilian JV partner, Auramedi, are working to accelerate their research efforts in this area."

We hope people don't take this article as a hit piece or short attack. We're just reporting on the facts as we see them. The press releases in our opinion are hurting the company more than helping. We want management to get focused and deliver on something. If not, do shareholders a favor and sell the company's valuable IP. We just don't think management can deliver as things stand now. They have lost all credibility in our eyes. There is indeed potential with BIEI, but time is running out. We will be updating Insider Financial as soon as we know more. For continuing coverage on BIEI and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in BIEI and have not been compensated for this article.