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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
BIOTEL, INC.
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(Name of Issuer)
COMMON SHARES
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(Title of Class of Securities)
09067F 10 7
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(CUSIP Number)
RICHARD BARONE
C/O ANCORA CAPITAL INC
ONE CHAGRIN HIGHLANDS
2000 AUBURN DRIVE, SUITE 300
CLEVELAND, OHIO 44122
(216) 825-4000
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(Name, Address and Telephone Number of Person Authorized to
Receive Notice and Communications)
May 6, 2010
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box |__|.
Check the following box if a fee is being paid with the statement |___|.
<PAGE>
SCHEDULE 13D
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CUSIP NO. 09067F 10 7
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1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ANCORA CAPITAL, INC.
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_|
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3
SEC USE ONLY
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4
SOURCE OF FUNDS*
00
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5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
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6
CITIZENSHIP OR PLACE OF ORGANIZATION
State of Ohio, U.S.A.
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7
SOLE VOTING POWER
NUMBER OF
0
SHARES
BENEFICIALLY
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OWNED BY
8
SHARED VOTING POWER
EACH
0
REPORTING
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PERSON
9
SOLE DISPOSITIVE POWER
WITH
0
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10
SHARED DISPOSITIVE POWER
0
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11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
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13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
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14
TYPE OF REPORTING PERSON*
HC
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<PAGE>
<PAGE>
SCHEDULE 13D
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CUSIP NO. 09067F 10 7
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1
NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
ANCORA ADVISORS, LLC
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2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |_|
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3
SEC USE ONLY
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4
SOURCE OF FUNDS*
00
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5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
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6
CITIZENSHIP OR PLACE OF ORGANIZATION
State of Nevada, U.S.A.
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7
SOLE VOTING POWER
NUMBER OF
SHARES
171,882
BENEFICIALLY
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OWNED BY
8
SHARED VOTING POWER
EACH
0
REPORTING
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PERSON
9
SOLE DISPOSITIVE POWER
WITH
171,882
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10
SHARED DISPOSITIVE POWER
0
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11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
171,882
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12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
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13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.17%
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14
TYPE OF REPORTING PERSON*
IA
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The following constitutes to the Schedule 13D filed by the undersigned
Item 1.
Security and Issuer
This Statement relates to the shares of Common Stock (the "Shares") of Biotel Inc. The address of Issuer’s executive principal offices is 1285 Corporate Center Drive, Suite 150, Egan, MN 55121.
Item 2.
Identity and Background
This statement is filed on behalf of all persons and entities (the Reporting Persons), herein referred to as “Ancora” or “Ancora Group”. Participants in the Ancora Group include Ancora Capital, an entity incorporated under the laws of the state of Ohio; Ancora Securities Inc, the main subsidiary of Ancora Capital incorporated in the state of Nevada; Ancora Advisors LLC, a Nevada limited liability company; Ancora Trust, the master trust for the Ancora Mutual Funds; Ancora Foundation, a private foundation incorporated in the state of Ohio; Merlin Partners, an investment limited partnership registered in Delaware; various owners and employees of the aforementioned entities. The Ancora Group is located at One Chagrin Highlands, 2000 Auburn Drive, Suite 300, Cleveland, Ohio 44122.
Ancora Advisors LLC is registered as an investment advisor with the SEC under the Investment Advisors Act, as amended. The Ancora Trust, which includes Ancora Income Fund, Ancora Equity Fund, Ancora Special Opportunity Fund and Ancora MicroCap Fund, are registered with the SEC as investment companies under the Investment Company Act, as amended.
Ancora Advisors LLC has the power to dispose of the shares owned by the investment clients for which it acts as advisor, including Merlin Partners, for which it is also the General Partner, and the Ancora Mutual Funds. Ancora Advisors disclaims beneficial ownership of such shares, except to the extent of its pecuniary interest therein.
All entities named herein (Ancora Group) each disclaim membership in a Group as such term is defined in Section 13(d)(3) of the Securities Exchange Act of 1934 and the Rules and Regulations promulgated there under.
During the last five years none of the Reporting Persons have been convicted in a criminal proceeding, nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3.
Source and Amount of Funds or Other Consideration
Ancora Advisors owns no Shares directly but Ancora Advisors may be deemed to own (within the meaning of Rule 13(d)(3) of the Securities Exchange Act of 1934) Shares purchased for or transferred to the accounts of investment management clients. Ancora Advisors disclaims beneficial ownership of such Shares and any shares beneficially owned by other Ancora entities.
Merlin Partners, Ancora Funds, Employees of Ancora and Owners of Ancora, have used available and uncommitted cash to purchase shares of the Issuer.
Item 4.
Purpose of Transaction
The entities named herein acquired Shares to establish investment positions in the Issuer. Subject to market and business conditions and other factors, entities named herein may purchase additional Shares, maintain their present ownership of Shares or sell some or all of the Shares.
Item 5.
Interest in Securities of the Issuer
Set forth below the entities named herein, in the aggregate, is the number of Shares which may be deemed to be beneficially owned as of May 6, 2010 and the percentage of the Shares outstanding represented by such ownership (based on 2,783,827 shares outstanding as of February 1, 2010):
Name:
No. of Shares
Percent of Class
Ancora Funds & Partnerships(1)
148,682
5.34 %
Ancora Advisors(2)
23,200
0.84 %
Total
171,882
6.17 %
(1) These Shares are owned by the Ancora Family of Mutual Funds and/or Investment Partnerships of which Ancora Advisors is a portfolio manager.
(2) These Shares are owned by investment clients of Ancora Advisors. Ancora Advisors does not own these shares directly but, by virtue of Ancora Advisors Investment Management Agreement with the investment clients of Ancora Advisors, each may be deemed to beneficially own shares by reason of their power to dispose of such Shares. Ancora Advisors disclaims beneficial ownership of such Shares.
Item 6.
Contracts, Arrangements, Understanding or Relationships with Respect to Securities of the Issuer.
Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.
Item 7.
Material to be Filed as Exhibits
Exhibit A: “Relevant Transactions in Shares” in the past 60 days.
Exhibit B: Joint Filing Agreement by and among Ancora Capital, Inc., and Ancora Advisors, LLC, dated May 6, 2010.
Signatures
After reasonable inquiry, and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.
Dated:
May 6, 2010
ANCORA CAPITAL, INC.
By:/s/ Christopher Barone
Christopher Barone
President
ANCORA ADVISORS, LLC
By:/s/ Richard A. Barone
Richard A. Barone
Chairman and Portfolio Manager
EXHIBIT A
BIOTEL, INC. (BTEL)
SECURITY CROSS REFERENCE
Date | B/S | Shares | Price |
03/03/2010 | BUY | 5,000 | $ 1.65 |
03/03/2010 | BUY | 1,000 | $ 1.64 |
03/18/2010 | BUY | 11,500 | $ 1.75 |
03/19/2010 | BUY | 500 | $ 1.75 |
03/29/2010 | BUY | 3,300 | $ 1.75 |
03/30/2010 | BUY | 7,902 | $ 1.75 |
04/06/2010 | BUY | 4,000 | $ 1.70 |
04/16/2010 | BUY | 3,000 | $ 1.67 |
04/19/2010 | BUY | 2,000 | $ 1.67 |
04/23/2010 | BUY | 1,000 | $ 1.65 |
04/26/2010 | BUY | 4,000 | $ 1.65 |
04/27/2010 | BUY | 4,980 | $ 1.65 |
04/28/2010 | BUY | 4,000 | $ 1.70 |
04/29/2010 | BUY | 2,200 | $ 1.81 |
05/03/2010 | BUY | 17,000 | $ 1.70 |
71,382 | |||
EXHIBIT B
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D dated May 6, 2010 (including amendments thereto) with respect to the Common Stock of Biotel Inc. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.
Dated:
May 6, 2010
ANCORA CAPITAL, INC.
By:/s/ Christopher Barone
Christopher Barone
President
ANCORA ADVISORS, LLC
By:/s/ Richard A. Barone
Richard A. Barone
Chairman and Portfolio Manager
