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Nope
Better things to do
Making stuff up, even an embellishment, is both immature and corrupt, I'm neither.
Everything muzzled down tightly is usually a good thing Steve. . . . I could say soon, but I won't. ;)
Total nonsense!
Oh, I'm 100% confident there will be a fine deal in BIEL's future.
I would just like the other two critical components to success to be completed before any deals are announced, so the company is more effectively managed and positioned so the sp rises farther and with greater sustainability.
Pretty dumb not to, when one looks at the numbers with good business sense. The 3-step concept has been examined by a number of accomplished executives. Common response? When are they doing it?
Hahahahaha
All 3 steps could probably be accomplished in the morning, followed by a nice lunch for the newly formed Board of Directors, then a quick final review and approval of the Press Release after the close of the markets announcing all 3 crucial steps. A productive day, many would say . . .
The Draft Press Release:
Quoting the current CEO, "If I were to become CEO of BioElectronics, for a day, and you were to call me, here’s what I would tell you":
DRAFT Press Release, Not for Release until approved.
The Board of Directors of BioElectronics Corporation, (the “Company”) manufacturers of ActiPatch, the FDA cleared, patented drug-free, side-effect free miniaturized pain device is pleased to announce the following;
Effective immediately, the Board of Directors of the Company welcomes the election and addition of 3 new Directors;
So and so . . . . .
So and so . . . . .
So and so . . . . ;
The Board of Directors of the Company also announces, effective immediately, the retirement of Mrs. Patricia Whelan, widow of the late Andrew Whelan, Founder and CEO of the Company. The Board and shareholders thank Mrs. Whelan for her service to the Company during the last few months of important transition. The changes to the Board of Directors increases the number of Directors to 5.
The Board of Directors is also pleased to announce the surrender and cancellation of certain Convertible Promissory Note – Common Stock debt instruments held by lenders related to the Whelan family and representing potentially 28 billion common shares of the Company, on conversion, and that the debt related to those Convertible Promissory Notes has been restructured to a more simplified debt format, that is unrelated to the issuance of common shares of the Company. This extremely significant and responsible change initiated by the Whelan family puts in place a more equitable situation for all shareholders and positions the Company in highly positive light to new, potential investors, moving forward.
The Board of Directors is also please to report that the company and all staff members continue to work diligently and to achieve significant and exciting progress in the area of New Business Development and will advise Shareholders as to progress in a timely manner and when appropriate.
The Board of Directors wishes to express its sincere appreciation to all Shareholders for their continuing support and loyalty to the company and its vision with respect to the development of marketing strategies of the ActiPatch family of products.
END OF DRAFT Press Release
Why 3 Steps? Great Question!
There are 3 issues; 3 tactics IMO.
1. Fixing the BoD by enlargement to get rid of the nepotism and improve governance substance;
2. Fix the absurd and corrupt Whelan benefitting share structure schemes by the former CEO; and
3. Make the deals necessary to realize sales and profitability.
Doing 1 and 2, before deals, assures a longer, stronger run with good sp sustainability. Everyone makes more, mostly the Whelan family.
Doing only 3 is to avoid fixing the share structure, in the hope that a modest sp increase when deals are announced, will cover-up the fact that doing all 3 is best. That, of course is greedy and shortsighted.
"If I can just hang on and not take the smart tactic to fix the share structure, then I'll keep all our shares and be more wealthy."
Laughably wrong, self-serving and in flagrant breach of fiduciary duty! So simple to manage with integrity. And so obvious when not. It has to do with character, but, in this case, the Whelan family will be much less wealthy, by NOT doing the right thing and managing effectively.
You may be correct that the current CEO has indeed worked and reworked all the numbers, being a CPA.
Deliberate decision to do nothing, "by design"? If so, what is the motive to do nothing?
"There is only ONE PERSON who could possibly change that perception. Unfortunately she doesn't seem to see the need to do that, maybe because she has her bases covered? Oh she knows the numbers,and how they will affect her, she's a CPA. So we will sit and swirl. It's all by design, IMO."
There are 3 issues; 3 tactics IMO.
1. Fixing the BoD by enlargement to get rid of the nepotism and improve governance substance;
2. Fix the absurd and corrupt Whelan benefitting share structure schemes by the former CEO; and
3. Make the deals necessary to realize sales and profitability.
Doing 1 and 2, before deals, assures a longer, stronger run with good sp sustainability. Everyone makes more, mostly the Whelan family.
Doing only 3 is to avoid fixing the share structure, in the hope that a modest sp increase when deals are announced, will cover-up the fact that doing all 3 is best. That, of course is greedy and shortsighted.
"If I can just hang on and not take the smart tactic to fix the share structure, then I'll keep all our shares and be more wealthy."
Laughably wrong, self-serving and in flagrant breach of fiduciary duty! So simple to manage with integrity. And so obvious when not. It has to do with character, but, in this case, the Whelan family will be much less wealthy, by NOT doing the right thing and managing effectively.
All 3 steps could probably be accomplished in the morning, followed by a nice lunch for the newly formed Board of Directors, then a quick final review and approval of the Press Release after the close of the markets announcing all 3 crucial steps. A productive day, many would say . . .
They can cancel, forgive, write-off any IBEX debt they wish....any time.
Board Chairs come and go every day.
New Directors are elected every day.
Absurd and inexperienced to believe otherwise.
I have a lot of patience Piney....
Quoting the current CEO, "If I were to become CEO of BioElectronics, for a day, and you were to call me, here’s what I would tell you":
DRAFT Press Release, Not for Release until approved.
The Board of Directors of BioElectronics Corporation, (the “Company”) manufacturers of ActiPatch, the FDA cleared, patented drug-free, side-effect free miniaturized pain device is pleased to announce the following;
Effective immediately, the Board of Directors of the Company welcomes the election and addition of 3 new Directors;
So and so . . . . .
So and so . . . . .
So and so . . . . ;
The Board of Directors of the Company also announces, effective immediately, the retirement of Mrs. Patricia Whelan, widow of the late Andrew Whelan, Founder and CEO of the Company. The Board and shareholders thank Mrs. Whelan for her service to the Company during the last few months of important transition. The changes to the Board of Directors increases the number of Directors to 5.
The Board of Directors is also pleased to announce the surrender and cancellation of certain Convertible Promissory Note – Common Stock debt instruments held by lenders related to the Whelan family and representing potentially 28 billion common shares of the Company, on conversion, and that the debt related to those Convertible Promissory Notes has been restructured to a more simplified debt format, that is unrelated to the issuance of common shares of the Company. This extremely significant and responsible change initiated by the Whelan family puts in place a more equitable situation for all shareholders and positions the Company in highly positive light to new, potential investors, moving forward.
The Board of Directors is also please to report that the company and all staff members continue to work diligently and to achieve significant and exciting progress in the area of New Business Development and will advise Shareholders as to progress in a timely manner and when appropriate.
The Board of Directors wishes to express its sincere appreciation to all Shareholders for their continuing support and loyalty to the company and its vision with respect to the development of marketing strategies of the ActiPatch family of products.
END OF DRAFT Press Release
A wonderful spirit, that Confucius, writing in 504 BC . . .
"Before you embark on a journey of revenge; first dig two graves"
Further to my post 226964 yesterday, a highly respected shareholder, almost as wise as Confucius, asked me this morning, "What would you do if you became Chairman and CEO of BioElectronics for a day?". The shareholder is not the one who suggested the current CEO should fix the BoD and fix the insane share structure, but does know who that shareholder is.
My response is simple, such a one day appointment would have to become effective very, very early in the morning, about 4:00AM, followed immediately by a Board meeting, so as to catch a Press Release before the markets open. Then I laughed and said, "Okay, If I were to become Chairman and CEO of BioElectronics, for a day, and you were to call me, here’s what I would tell you:
DRAFT DRAFT DRAFT
Press Release, Not for Release until approved by the Board of Directors.
The Board of Directors of BioElectronics Corporation, (the “Company”) manufacturers of ActiPatch, the FDA cleared, patented drug-free, side-effect free miniaturized pain device is pleased to announce the following;
1. Effective immediately, the Board of Directors of the Company welcomes the election and addition of 3 new Directors;
So and so . . . . .
So and so . . . . .
So and so . . . . ;
2. The Board of Directors of the Company also announces, effective immediately, the retirement of Mrs. Patricia Whelan, widow of the late Andrew Whelan, Founder and CEO of the Company. The Board and shareholders thank Mrs. Whelan for her service to the Company during the last few months of important transition. The changes to the Board of Directors increases the number of Directors to 5.
3. The Board of Directors is also pleased to announce the surrender and cancellation of certain Convertible Promissory Note – Common Stock debt instruments held by lenders related to the Whelan family and representing potentially 28 billion common shares of the Company, on conversion, and that the debt related to those Convertible Promissory Notes has been restructured to a more simplified debt format, that is unrelated to the issuance of common shares of the Company. This extremely significant and responsible change initiated by the Whelan family puts in place a more equitable situation for all shareholders and positions the Company in highly positive light to new, potential investors, moving forward.
4. The Board of Directors is also pleased to report that the company and all staff members continue to work diligently and to achieve significant and exciting progress in the area of New Business Development and will advise Shareholders as to progress in a timely manner and when appropriate.
5. The Board of Directors wishes to express its sincere appreciation to all Shareholders for their continuing support and loyalty to the company and its vision with respect to the development of marketing strategies of the ActiPatch family of products.
END OF DRAFT Press Release NOT APPROVED FOR RELEASE
This is not an actual draft of a press release - it is a spoof, in answer to the question I was asked by the shareholder referred to above.
"Now what would the stock price be if THAT were true."??? Much higher!
So many moving parts to the BIEL opportunity. The biggest one after announcing deals and fixing the BoD is the share structure. Those who 'get it, that is the lead weight drowning factor on the sp of having 63 Billion shares versus 35 Billion, say it's the biggest factor of all!
Mathematical facts - 35 Billion shares at $.0009 are worth the same as 7 Billion shares at $.0045. In assessing the tactical advantage of throwing 28 Billion shares in the toilet, BIEL sits in at $.0009, (actually bottom of the toilet at .0005), the company now would have greater buoyancy, it will float higher in the water, won't scrape on the bottom as much, won't run aground....
When the BoD is also fixed AND a deal or 2 are announced, the share price will rise, and because of the increased buoyancy, it stands to reason it has a greater chance of rising higher and longer and will float better, without the lead weights of those 28 Billion shares. Simple logic!
Now, the current CEO might ask, "does anyone actually think I would give up shares?" Good question, except we're not talking about candies. Give up candies, got less candies. Give up 28 Billion shares of 35 Billion - got way less shares, but more buoyancy, more upside....
Yup, less candies but, what if the shares are trading at $.04 cents and you now have 7 Billion shares, versus you've still got 35 Billion, but the price is still in the toilet at $.004 after a deal is announced? Well, with version 1 you have $280 million, but version 2 gives you only $140 million, half as much. You like a company with buoyancy or this one with lead weights of too many shares, keeping you down in the toilet?
There would be some naive enough to suspect and scream, "don't do that, because you will be giving up control and you will be victim of a hostile takeover". Laughable, that's what voting stock issues are for. That's what strategic alliances are for. 2nd best part? The idea came from someone close-in, who just wanted to help, nothing more, others just refined it.
The best part? Those 2 tactical moves would lighten the company, allowing it to float higher and longer in a run, with greater price sustainability......when a deal is announced.
AND fixing the BoD and the corrupt share structure, inherited from the past, would go a long way to showcase the current CEO as looking after the interests of shareholders better and illustrate to others observing that she is doing the right thing as far as governance is concerned. Share structure is huge, perception may be more important and sure would silence potentially troublesome critics! Too many of those is not a good thing!
She doesn't think that! I always cut folks a lot of slack, during the last year of any long-term illness, during times surrounding actual loss; services, wakes, and caring for the immediate needs of family members, and for 6 months to a year after.
In the case of BIEL, I've only used the term 'former CEO', never a name or initials..... if I slipped up, it was a terrible error, for which I apologize. BUT, BIEL is special, in terms of what needs to be done to protect the Whelans and immediacy. It will play well, very well, to fix the BoD and the insane share structure, as suggested numerous times....
So, to repeat, grief is horrible; unresolved grief is worse, gut-wrenching, controlling. My sense is things are better and improving quickly. Still sense something good is up, too quiet. To blame anyone for the event, except the person involved would be insane and that's why we cut slack. Just anger, one of the stages of grief and healthy....
Four of the many benefits of a BoD made up of highly competent successful men and women. Better advice, experience, wisdom and a blended presentation of a 1st class management style.
Quoting the current CEO, "Call me, and here's what I'll tell you."
Run your business with your head, not your heart.
Allegedly, shareholders have invested $30 million in a publicly traded non-reporting company. After more than 12 years, there are no tangible sales and losses continue. ActiPatch is not sold off one US pharmacy chain retail shelf. The BoD is made up of 3 Directors, two family members, and there are potentially over 65 BILLION shares, including Whelan controlled convertible notes.
Whelan opinions about how my reflections and suggestions concerning cleaning up the corporate carnage inflicted on the members of the Whelan family, particularly the current CEO, who in my view was also thrown under a bus, and every single shareholder, for well over a decade, are not even on the radar.
None of the travesties of the past can be undone or fixed, except fixing the make-up of the BoD and the corrupt share structure. Only then will BIEL have the best shot possible, when a major deal is announced.
There is a lot that remains unknown by many that should remain in the toilet, where the sp has been for years. But sympathy and consideration must be only for the current Whelans and shareholders and lifting BIEL out of the toilet it was badly managed into.
I like it, much more professional for a public company CEO to communicate only via appropriate PRs. Might have been more friendly and thankful for shareholder interest via all venues, but, on balance, better....
Now, just add more horsepower to the BoD, be more kind to your mother; let her stay home and in peace, she deserves it. She will be free from the reminders of BIEL.
And fix the corrupt, inherited share structure that you were also a victim, of for years. You were played, just like the rest of us. Thrown under the bus, just like the rest of us.
1. Assume only a token amount or less, because knowing the exact number accomplishes nothing. The document may have read, "for the sum total of ten dollars ($10.00), receipt of which is hereby acknowledged and other considerations," etc., etc.
2. ROI, does it matter? The revolving convertible loan model was adopted by the former CEO, after a couple of NYC Slickers made a few million doing it. Former CEO said, "why not me?", and set up IBEX to finance BIEL. Trouble is he turned the model into a printing press. Would have been ok if 100% of proceeds had gone back into the company......
3. Current CEO may not see the light, or care, but she is totally aware of the corrupt behavior of the past....
4. The current CEO must not disclose here or anywhere else that is inappropriate, what steps the company will take to rectify the outrageous share structure and how it happened, except through normal channels for a public company.
The good thing is she knows and so do waiting, observing shareholders. Fix the BoD, fix the share structure.
You may be correct, but I've tried to remain circumspect and observe KK Whelan using time and space, to perhaps mature and realize she is her own person, for once, and not under the OCD controlling hand of the former CEO.
So far, she's riding a bike, but treading water on CEO progress. I've heard on the pain space street that Keith Nalepka is shaking it in sales development for ActiPatch, but KK needs to clean up the former CEO's corporate basement toilet and get BIEL ready to walk, then run, when deals are solidified. Please see the previous post to yours.
Hard work, that patience, after 12 years, huh?
Maybe KK Whelan, as new CEO, growing some, fixing the BoD by adding more Directors with more wisdom, experience and horsepower, then fixing the corrupt share structure she inherited from the former CEO, as suggested, by 'disappearing' 28 plus billion potential Whelan family shares, will lighten the share load, make the sp more nimble and open it up for a longer, stronger run when deals are announced and provide sp sustainability.
Only actions will determine if the intellectual lights are on. If those two things do not happen, it will have been deliberate and the responsibility will rest in one place, and only one place. New, innovative, smart, CEO or puppet following another's stupid example? Time will surely tell.
Hard work, that patience, after 12 years, huh?
Maybe KK Whelan, as new CEO, growing some, fixing the BoD by adding more Directors with more wisdom, experience and horsepower, then fixing the corrupt share structure she inherited from the former CEO, as suggested, by 'disappearing' 28 plus billion potential Whelan family shares, will lighten the share load, make the sp more nimble and open it up for a longer, stronger run when deals are announced and provide sp sustainability.
Only actions will determine if the intellectual lights are on. If those two things do not happen, it will have been deliberate and the responsibility will rest in one place, and only one place. New, innovative, smart, CEO or puppet following another's stupid example? Time will surely tell.
I am still hopeful the current CEO will correct the awful legacy of the former CEO by expanding the BoD, to bring on some business horsepower with credibility, by letting her mother retire as Chair to try and find some tranquility at home and by reducing the shares controlled by the Whelan family through convertible loans, as suggested.
The current CEO and controlling family will become more wealthy by making the company more nimble to run longer and higher after the announcement of a deal or two and cleanse themselves of the humiliating toxicity the the legacy of the former CEO.
Too bad, but what a mess - 5 FDA clearances, a magical device for the remediation of pain, with no drugs and no side-effects, yet a sp in the toilet for years and sitting at .0005. In the USA? More like Venezuela or some other banana republic. Clean up the mess KK Whelan. If not, shame on you!
Form strategic alliances.....
The math was simple.
What they have today, from memory and using numbers then, 35 Billion, has roughly the same value as 'disappearing' 28 Billion shares, of 35, and keeping 7 Billion shares and having the sp rise to .0045.
My contention, and that of a number of really sharp people, was that just by fixing the BoD AND the share structure, those steps alone will lighten the company, make it more nimble, eradicate the overwhelming majority of the inherited toxicity and showcase the current CEO as wise and strategic far beyond her years and experience.
Then, with the announcement of the first deal launches the 'new' BIEL far above the .0045 AND provides sustainability to the sp.
All shareholders win, Whelan family wins biggest. Maybe the KK Whelan gambit is to hold on and hope the sp sprouts wings, huge risk with a toilet dweller.
The reverse is likely if those fixes are not implemented before a deal is announced. Company still sitting in the toilet it has occupied for years, with a 2 Whelan BoD and the family hoarding 35+ Billion shares and may languish in the low 00's with a ho hum by the market. I would rather own 7 Billion at 3 cents, with lots of potential, thank you.
I know I'm right!!!!!
Sleepin like a......
No one is going to prison.
All will be well, if current CEO undoes damage caused by former CEO re fixing BoD and reducing Whelan corrupt holdings by 28 to 30 billion shares.
Burn 'em, throw 'em away, disappear 'em. Will make company lighter and they will actually make more on a longer stronger run, with greater sp sustainability, when deals are announced. Only fools don't change their minds.
How many times did I say that to failing papa for 10 years? Too many to count. Defiance was his middle name, defied Physicians, defied shareholders, Dr. Scholl's, CVS, KT Tape and many, many others and to what end?
Current CEO knows this, so it's time to reverse the trend! C'mon KK, just to it and stop procrastinating!
You can't handle the name!!!! :)
A brilliant post....worth a second read, a lot there!
"The fact is that though that article is dated March 21, it is irrelevant to the now and whats happening"
The essence - even March 21 is old news....it's getting late! Smart minds are saying move now, while the bear is stirring. The country will come roaring back!
Critical the current CEO reverse 12 years of colossal mismanagement by fixing the BoD and insane share structure, foisted on her by her predecessor, not her fault, but it will be if she doesn't fix those two issues ASAP and position the company properly!
Industry analysts writing history articles are writers advising readers why something happened before. They are details about the past and are so out of date as to be almost useless in determining what tactical moves executives should seriously consider in moving forward.
The globe is reopening, and now is the time to announce new deals and to be first! To be ahead of the pack.
Current CEO needs to fix the BoD and the corrupt share structure and she knows how! What will it be, progressive, competent or toilet?
"When you can describe Actipatch as a back pain remedy in the USA...the whole game changes."
How about . . . When you can describe ActiPatch as THE back pain remedy in the USA...the whole game changes?
Getting the company to high double 00's now is fundamental progress and the current CEO has full awareness of how to make that happen, before announcing any OEM deals. My senses still scream that at least one deal is done, simply waiting for the country re-opening to truly be underway, with sustainable momentum, then catching that wave for an incredible American renaissance period. Rising from the ashes. Best ever is it will become a period of incredible determination on a national level, never seen before - not revenge - payback! No bombs, best revenge is success!
The current CEO needs, more than ever, to prove herself now. Expand the BoD with more horsepower, allowing her mom some small respite during a very difficult time. Have a heart, no need for a stacked BoD. And throw away 28 to 30 billion of corruptly obtained Whelan family shares.
Make BIEL better managed, lighter and more nimble, ready for any announcement run into the pennies or leave it as a laughing stock, swirling in the toilet it has been in for years. Just plain stupid not to. There is an extraordinary wave of reconstruction of the most successful society in history starting, why miss it? THE back pain remedy in the USA??? What will it be, ride the wave or remain sitting in the toilet?
You're right. No CEO could ever be comfortable with a share price below the time of service of their predecessor, regardless of nepotism or not.
Getting the company to high double 00's now is fundamental progress and the current CEO has full awareness of how to make that happen, before announcing any deals.
Expand the BoD with more horsepower, allowing her mom some small respite during a very difficult time, have a heart, no need for a stacked BoD. And throw away 28 to 30 billion of corruptly obtained Whelan family shares.
Make BIEL better managed, lighter and more nimble, ready for any announcement run into the pennies or leave it as a laughing stock, swirling in the toilet it has been in for years. Just plain stupid not to.
Yup.
Retire mom to peace
Enlarge BoD, more horsepower
Share structure-disappear 28 billion shares
Do several deals
Make BIEL profitable
Now, there's a worthy legacy
Former CEO couldn't, KK Whelan can!
Very simple rule that seems to prevail in every part of life....be first!
First to retire mom, so she finds some peace, finally. First to enlarge the BoD with more horsepower, first to fix the absurd share structure, first to announce deals, first into the pennies with sustainability.
Not difficult to figure out who the parties are. I will store the names of my guesses in a safe place - an email.
Correct....it cannot be a RS. It must be a cancellation by the Whelan family of 25 to 30 billion of the bloated, corrupt shares, engineered by the former CEO.
Current CEO would be 'clearing the decks', as it were. Taking an admirable step to undo the wrongs of the past, allowing the sp to run longer and higher, with greater sustainability, when deals are announced. Imagine all that and a restructured BoD! Better managed, in a split second.
Been saying that for 4 years, 3 1/2 to former CEO and months to current one. Fix the BoD and corrupt share structure are the two major impediments to sp success.
Advised the current CEO of adjusting those to ensure longer, higher run in sp, with greater sustainability, once deals are made.
Only time will tell if she is burdened with the genetic and behavioral weight and traps of the elder or can become her own person and admired by shareholders and the community as a competent executive.
It was '08
One only realizes a profit or loss when a position is sold. With only 1% to go on the purchase at 6 cents per share, may as well hold on, in the hope that deals are announced, the current CEO fixes the mock board, gives her mum a gift and coaches her home and fixes the absurd share structure as suggested in 225384.
At 6 cents, quite possible with a few deals, fixed BoD and share structure, sales and profits, you are made whole! Or take the hit, your call.
It's to be had at the Fleur restaurant at the Mandalay Bay in Vegas. It's $5,000 and includes a bottle of 1995 Chateau Petrus Bordeaux. If they overcook it, they'll do it again, till they get it right. Fries included!
If the current CEO fixes the BoD and the share structure, you can take her there!
Thank you, it's just mathematical common sense. Does one want to be merely wealthy or filthy rich, with all shareholders benefitting financially? Is there risk? People should take risks when chronically stuck in a toilet for years.
I see it as an incredible multi-step opportunity. One the former CEO could not / would not grasp and run with. Had he done so, instead of being chronically defiant, for defiance's sake, I am positive that, sadly, the outcome would have been different. Fortunately I and others can back it up.
No idea how the suggestions can be interpreted as throwing away money???? Do the math, it's called strategic positioning to create much more wealth than currently.
Nope, the silence still triggers my senses to believing there is a lot going on. The silence means management now sees the stupidity of empty noise. Shareholders are smart, despite the opposite and often declared opinion of the former CEO.
If there is not a lot going on, after so much Twitter blah, blah, blah, it probably means, in most cases, management has left town, with a posse on their heels. But, they haven't left at BIEL, something is up.... the country is opening up, the virus is leaving town, fingers crossed, sanity prevails, fingers double-crossed.
Fix the BoD, fix the share structure, stay off Twitter and announce a great deal....we're good.