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It's why the Whelans tossing 28+ billion of their 35+ billion shares in the garbage, burn 'em and cancel 'em, will position BIEL to run longer and stronger, with greater sustainability in SP when deals are announced.
Would you rather own 35+ billion shares @ .0008 and struggle up into the low double 00's with a total of >65 billion shares on your shoulders, with all notes converted, weak sustainability and doubtful upside..... or, toss 28 billion shares into the cancel can, lower the total weight to around 34 billion, retain 7 billion yourself and be at a SP of .004 with sustainability and a lot of upside? Do the math!
When the current CEO fixes the share structure, loads the board with more talent and announces a deal......oh boy, that's effective leadership. Today, we're in the toilet, the Whelan family is in the toilet, but, ActiPatch is a disruptive technology miracle. I want the miracle and solid leadership and effective management. Hard asks? Do the math!
Nah, she doesn't blame anyone, she knows he was the instrument totally controlling all that happened for many years - decades - she lived it. Now, if she doesn't see it intellectually and psychologically, then she has issues and could use some help.
I still say she was a victim in a highly controlled and punitive environment and is still grieving a monumental personal loss. None of us is ever prepared for the loss of a parent, sibling or child, we muddle through, at best and come out the other side, hopefully intact. Some don't.
Best thing that could have happened would have been to have a crew assume corporate management responsibilities for a year and then assess. But trusting others and working well with others was not a family trait that would have been passed down to the current CEO. Meanwhile, there is a public company at stake and nothing is happening to stabilize it for positive next steps and growth. BoD and stupid share structure. . . . .
Ahhhhh. it's 7 months. The current CEO will begin to get the feet more firmly planted on the ground and hopefully in the land of common sense and realize that shareholder criticisms of the company for being in the sp toilet for years and the dismal results put up by the former CEO have absolutely nothing to do with her father and her relationship with him or her loss. Those issues are worlds apart for shareholders. And stop blaming others, it's an ugly Whelan trait! Never blame anyone, not even yourself! First rule of an executive! It's not me talking and it's not personal - pay attention to any half-decent 'B' School!
People don't care, don't want to know about family relationships or losses and, properly, have zero sensitivity to those matters. They only care about deals; why aren't there any in 10 years? Sales; why are they in the toilet for 10 years? And the share price at .0005. If the current CEO can't separate the obvious and ignore the familial issues, she makes herself totally ineffective and a perfect target for criticism. Being CEO of a public corporation is not attending a day-care. It's business!
So make the decision, CEO or day care attendee. If it's to be CEO, then fix the BoD, fix the previously corrupted share structure by disappearing 28 to 30 billion Whelan shares concocted by the former CEO and give yourself and all shareholders a fighting chance to succeed, or don't and stay in the .000 toilet. Under those conditions, announcing deals will result in a mediocre rise in sp.
By disappearing the shares, just burn 'em, you wisely position the company to run much longer and stronger, with greater underlying stability, for when deals are announced. Create a positive legacy as a CEO who took the courageous steps to undo negative conditions and lead a company to profitability for all shareholders.
Or position yourself to have a legacy that includes words like self-serving, greedy, lacked vision and wisdom, defiant, poor listener and the apple rarely falls far from the old tree. Decide, but don't continue to fire blanks and look inadequate. Step up and make a positive difference, instead of being identified with 'same old, same old'. For sure, don't continue to do nothing on Twitter. What did that ever do for you? Nothing!
When any executive engages in dialogue like this - "My father issued shareholder updates 2x a month. What did he get for doing that? Harassed to death. The Company will issue news via a press release when appropriate.", it unfortunately means that the executive has been drawn into an argument that cannot be won. No one wins against armchair QB's.
Words of advice, cancel the Twitter account, you're on the right track distancing yourself from the noisemakers, now, go all the way and just delete the account. It never made you dime one or advanced the company! It's an addiction - change the habit to making tiny steps forward for the shareholders. Success is addictive, just as time-wasting is too.
Start by doing the right thing for the Chairman, let her go to be in peace. Then fix the BoD by expanding it. Finally, fix the corrupt share structure you inherited, as suggested. It will then be positioned to make the shareholders more wealthy than if you don't. That should keep you busy tomorrow and Thursday, while overseeing how the deals are going. This is not hard; it involves a plan, vision, decision-making and growing some. It's addictive.
No one needs to say a word - all been said - .0005
Physicians are retailers. They sell their services in stores.
Very few people die of acute or chronic pain, although they can and do become addicted to pain drugs and ruin lives and families that way.
Why would Physicians even consider promoting a magical pain remediation device that mitigates pain,reduces edema and promotes healing at the cellular level? That would be morally and ethically helping their patients. Should happen, but does it?
It would end any revenue to them and reduce traffic in their stores and therefor profits. Chiropractors even moreso. They cannot afford to lose patients to highly effective pain devices like ActiPatch.
If it were only true, that is a refreshing glimmer of professional management.
Now, if that same professional management could just follow up with a series of much needed tweaks, like the BoD and fixing the corrupt share structure, inherited by current management.
Then, the BIEL share price could immediately react and be well positioned to run longer and stronger, with greater sustainability, when major deals are announced through proper channels. And BIEL will be a real company, with a real plan for success.
Yesss. Corporate management is serious business, at least the successful variety is. People should view it as Doctors do when treating their patients. It's serious and often life and death.
Running a successful company is life and death, every day! No room for idiots! Takes 1 month or less to kill a good company, if you do it right.
And, like good surgeons, a company can be fixed and alive and healing in just a few hours. BoD and corrupt share structure. If they are not fixed, BIEL will remain on life-support and in the 000 toilet, where it has been for 10 years. Up to KK Whelan if BIEL lives or dies.
Time will tell - only up to KK Whelan, the current self-appointed CEO, to reveal the current levels of competence and integrity. When the measures are so simple, what deals, what sales, how did the CEO fix such glaring issues as the BoD and the corruption of the share structure, or not.
There are no secrets. No wiggle room, no blaming the past or others and certainly no blaming of a virus that can only enhance the ActiPatch opportunity of helping hundreds of millions of people choose not to use drugs to eradicate their acute or chronic pain. Also, every CEO in the world is saddled by the challenges presented at the moment. Only the best will find ways to do their job better for all shareholders. The result, of course, is how much wealth is to be created by her innovative management and fixing of highly problematic issues and red flags, or not.
"Incompetence runs in the family..."
Not sure. Time will tell, KK Whelan will either completely reverse the trend of the past 12 years or more, sadly left to her by the former CEO or make it indelible. A simple decision and one I would have already have made many weeks ago. Positive management tweaks cost nothing. To increase the Board of Directors to 5 or 7 and let her mother grieve at home, in relative peace, costs nothing. An act of kindness. No need to stack the deck on the BoD to prevent anything, form allegiances to prevent such things and protect the mothership - happens every day. Stupid not to because it is such a strong signal and generates confidence in management!
And fixing the corrupt share structure is just as easy and more fruitful! The Whelan family must relinquish at least 28 Billion shares, out of their 35 Billion shares, plus/minus (when all loans are converted to shares), of what the SEC labeled "ill-gotten" gains. That would leave them with >8 Billion shares, plus/minus, and position BIEL to run longer and stronger, with more sp sustainability, when a deal is announced. So simple, costs absolutely nothing and creates much more stability and wealth for the Whelan family, all shareholders and the company going forward. Suspiciously stupid not to do so - should have happened many weeks ago. Stupid way to attract attention. . . .
My sense is still that there is a deal already in place, in principal, if not 2 or 3. The total silence is uncharacteristically professional and deafening. I have never wanted blabbermouths at the helm of any company I've been involved with because that makes them allies of the competition. With a blackout on chatter, I welcome it. If nothing is happening, that will be revealed in time, same as the nothings on Boots, B. Braun, CVS, Dr. Scholl's, KT Tape, the CE Mark, MundiPharma Australia, the truth always comes out because the truth translates into deals and sales. Imagine how simple that is. Dismal sales means all the chatter was what? Yup.
My wish is for nothing more than wisdom, integrity, governance, action, deals and sales. Anything else is toilet management and I'm tired of that. One would think KK Whelan, the current CEO got very tired of years of no deals, no sales, no profits and having been thrown under the bus with the SEC debacle. Time to show what she's made of and how she has overcome what happened. She is a human being and has deserved a solid shot at doing the right thing - her shot to prove herself is now.
I suggest we respect the rights of every Corporation NOT to disclose any information whatsoever, that would in any way endanger the security of a business position and therefor the net equity of shareholders.
No question in my mind that Maryland and the SEC will respect those rights, especially during a pandemic that has essentially shut down the free world.
Further, on the side of reality, opioid issues have increased, pain sufferers need and deserve a break and there is no better time to help folks than now, by telling them about ActiPatch. So, the current CEO needs to be proactive, just once in the bizarre history of this company, to do the right thing, and to get out of the toilet.
Nothing stopping her from two management fixes, the BoD and the corrupt share structure. The Whelan family must relinquish at least 28 Billion shares of what the SEC labeled "ill-gotten" gains. That would leave them with >8 Billion shares and position BIEL to run longer and stronger, with more sp sustainability, when a deal is announced.
She can be a hero with those 2 simple fixes and be wealthier long-term, or remain in the toilet. Not hard decisions for a CEO with any degree of competence.
Now someone is believing what really happened. Never a thought or word of any kind of takeover; hostile, merger, acquisition or otherwise.
Just a group of experienced, savvy business people willing to help an ailing company, because a guy in difficulty asked for help to retire. Nothing more.
Just once, It would be very cool if BIEL could be ahead of the curve. It was way ahead of it's time in '08, the FDA admitted it had no in-house talent in PEMF and would recruit some. It did.
BIEL got OTC clearance for foot and knee Feb 2017, its head-start diminished, but still had a good shot at the pain market.
At that precise time, 2 Directors resigned because the former CEO had defiantly refused by-pass surgery advice and refused to help prepare a succession plan. The SEC was chasing.
A few long-term shareholders noticed substantial and advancing deterioration. The former CEO's plea for help to retire was March 2019 and he rejected a plan shortly after. In between came the irrational "No" to Scholl's, CVS and KT Tape. Don't judge, just assess.
The current CEO, along with everyone else, had no warning of what was coming last October. The end was in sight, but not specific timing. Who does?
The current 'CEO' inherited a mess, without question. The choice is hers. Fix a few things, the BoD and corrupt share structure to keep the dogs and the SEC at bay and make deals or stay in the BIEL toilet she was left with. Can she do that? Will she do that? Only time will tell. For once in over a decade KK, could BIEL be first at something, instead of into the usual toilet every morning? If you don't know how, ask for help!
I would like to see her reverse the trend of the company having been sabotaged by defective management. It is solely up to her, no excuses, no one to blame, fix the BoD and laughably self-serving share structure and make deals, there is nowhere else to hide or go and she could be successful, if she did.
Sadly, believe it or not, some folks just don't know how to be successful. Some folks need to cut off their nose to spite their face, happens all the time. And observers just shake their heads in wonder.
For clarity, BIEL was leading the space with Dr. Scholl's, KT Tape and CVS, then BIEL reverted to its familiar toilet with a bizarre series of, "No!". Those deals were in the house, thanks to Keith Nalepka and he and shareholders were sabotaged by defective management. And that's just since Feb. 2017 when FDA OTC clearance was issued on the foot and knee.
Does the 'memory' of the former CEO deserve credit for numerous BIEL accomplishments? Of course, it would be dishonest not to recognize them. But as to legacy? The Dr. Scholl's, KT Tape and CVS deals were sabotaged by defective management.
The current 'CEO' inherited a mess, without question. The choice is hers. Fix a few things and make deals or stay in the BIEL toilet she was left with. Can she do that? Will she do that? Only time will tell.
I can tell you it was never talked about amongst the group that was prepared to pump new funds in and help AW take BIEL over the finish lines, when his health was rapidly failing.
The group had the age and experience and knowledge through proximity to assess what was happening. I can also say that the group was acting in a totally altruistic way, I know, because I was one of them.
The former CEO said, "No" to the group responding to HIS request for help, wishing to retire.....that was April. The group quietly shrugged and we all know what happened next.....sad!
There are others who will sell a lot more shares, for a lot less, if the current CEO doesn't make some intelligent moves. Almost 7 months and nothing tangible - same faux BoD, same bizarre share structure, no deals, no sales, no nuthin and a USPTO patented, drug-free, side-effect free, disruptive technology, magical pain remediation device. C'mon KK, show us your stuff, show us anything!
It takes a lot of effort to be in this place, at 0005, unless. . . . ah you know what I mean. Should be at 5 cents with the first deal already announced, not .0005.
It must be remembered that none of the negativity I have read in the public sector seems personal. KK Whelan is totally unknown by 100% of the authors, no one knows her and no one cares, to them, it is just a name. It is the style of management and the total lack of effectiveness that the writings are pointed at. And, who can argue? The stock price has been swirling in the triple-0 toilet for years. That fact cannot be debated.
Best way out of the crossfire of criticism and the sp toilet is to fix the BoD, fix the corrupt share structure foisted on KK by the former CEO's reign of terror, my way or the highway, "NO!" to CVS, Dr. Scholl's and KT Tape, and make deals! Choices KK, choices, defiance or common sense, argumentative or wisdom, stay in the toilet or make tens of millions.
So easy..... and such a breath of fresh air to be free of the toxicity you inherited.... Imagine riding those trails and really hearing the sounds of nature, instead of the tick tock of the past and feeling the stressors of the present and future....instead of engaging in he said, she said and arguing, just make something good happen, far more profitable!
That it total fictional nonsense. The former CEO told me exactly how he accomplished all that he did, in detail, numbers, methodology, everything!
Oh oh.....
Best way for KK Whelan to dispel all negative AND positive fiction and disparaging comments about her motives and character is to simply make a few positive moves, for BIEL, the shareholders and her family, with unimpeachable integrity.
By coincidence, I listed a few in a post a little while ago. Food for thought KK. It seems pretty clear to me that you are being painted with a brush from the recent past. So, undo it.....unless they are accurate. Your choice, always your choice.
Because some folks have a rifle approach and some folks have a shotgun approach.
The Whelan clan has been involved in a string of petty arguments, with the last person they went into a snit over, for more than 6 decades. He said this and she did that and they were mean to me, and it's all someone else's fault . . . . whiney, petty, short-fused and arguing about every stupid little thing on earth!
You cannot focus on the big picture, using the shotgun approach, if you are stuck in the toilet, arguing about who says what about your bike riding! "Call me and here's what I'll tell you!" Already spoiling for a fight in calls that never came....
Well, effective leaders don't 'tell', they 'sell', they lead, they make people feel good about themselves and what they are doing. They never demean them and they leave their dignity intact, with an, "I can do this" attitude. And they don't bloody say 'No" when staring a gift horse in the mouth. . . . 3 X!!!!
After decades, if the natural reaction is to pick a fight today, instead of winning the war at the right time, it is almost impossible to stay calm, focus on the goal and lead effectively. Ahhhh, the main attributes of a successful CEO. Remain calm, never blame anyone, not even yourself, focus on the long game and treat everyone well. BIEL, ActiPatch, getting this done, success, fixing the Board of Directors, fixing the stupid self-serving share structure caused by the former CEO, none of this is difficult, it just takes effective leadership. Problem is, if the leader doesn't have it, they can't fake it.
Agreed!
I just would have gone at it a lot differently and with total transparency, fairness to ALL those supporting my dream and less self-serving. But, that's just me.
My underlying, and sometimes somewhat open, point to the incessant, and, believe me, tedious and boring, references to fixing the BoD and share structure is simple. Pssst, I have far better things to do.
It is a rare golden opportunity for someone now to redeem herself, from that which she has inherited.....and had no control over.
I knew the score, far better than you and many think. Some redeeming qualities, some over the years that made me shudder. A constant situation, for over a decade, where I could have said, "I told told you so, but didn't, because listening was not a strong suit. You with me?
So, I said it differently - "I warned you!", to which there was only one response, a somewhat meek, "I know....". Called no wiggle room. Good guy in many ways, but life and health and obvious stressors beat him....
Back to it, There is an amazing tactical opportunity for someone to make many tens of millions MORE, AND to take the high road and come out of a crappy toilet situation she inherited, a hero AND smelling like a rose. How often does that happen? Taking it is a matter of seeing the clear opportunity AND character. We shall see....soon.
Except....no one has ever shorted BIEL stock, ever!
Suggest actually looking up financial regulatory requirement before being able to short BIEL stock. It requires an absurd amount of cash security per share shorted to be put up and in your account first.
So absurd, it's a long, long time ago, like many years, that I looked it up to confirm that someone else suggesting it was absurd and have forgotten.
Something like $1.50 or $2.50 per share. But go ahead, have fun looking it up yourself. When verified, do the math on how much is required up-front to short 10 million shares, $6,000 worth of stock, like, at least $15 million, then find a broker who won't laugh the idea out of town! Too funny, shorting BIEL!
Hmmmm, because enough shareholders would first endorse the proposed changes at a shareholder's meeting? Perhaps even unanimously.
Certainly the Whelan block would be very much in favor, because they would understand in graphic detail how it would benefit them financially. It's called experience and appropriate governance. That's enough for this forum.
One slight variation....the affectionate nickname has been 'KK' for a long, long time. It may be derived from toddler years, "Here comes KK!"
"The last sentence was conveniently ignored"
No it wasn't, it was deliberately ignored due to sensitivity.....
"Per an earlier post today current BIEL Management have"one major deal already in place", "may be 2 or 3 deals done or nearing completion".
Why would shareholders want to change management that has a Major Deal in Place and 2 or 3 other Deals Nearing Completion? And has made that progress with a Worldwide Pandemic shutting down much of the world's businesses for the last 2 months."
There was no suggestion of changing management, only a suggestion of allowing Mrs. Whelan to go through a sad process with some spacing from BIEL. That doesn't 'change' management. KK Whelan's loss was different from Mrs. Whelan's, far different. I did not suggest a substantive change in operating management, only enhancing the BoD! Needs more horsepower and could be a very positive thing. What I do ignore is negativity.
Nah the efficacy is terrific...>71% positive efficacy rate. Just that PEMF, now re-named SWT Short Wave Therapy, by the FDA, was thought of as hocus pocus and a threat to Doctor's cash flow for 50 - 75 years and has only been cleared by the FDA, on an OTC basis, for BIEL's foot and knee since Feb 2017. It's a process.
All in the timing - now seems a perfect moment for another dose of the truth . . .
Couldn't agree more misanthrope. Believe me, if I had my hands on the throttle of BIEL for two weeks, doesn't take 180 days! Keith Nalepka and Erin and I and the entire BIEL team would be pitching hard, not biking!
Pitching all the wisdom you and others have said for years. We would sell senior executives on the merits of owning the American spotlight by announcing deals ASAP. Owning the media, ramping up the word of mouth in America, "Hey did you hear about the now gizmo so and so is coming out with for back pain and knee pain? This could be what you've been waiting on for years!".
AND, I would immediately increase the BoD to 5 or 7, have Mama W retire, it would be a kindness to her. And fix the stupid share structure so ALL shareholders benefit more, with a longer, stronger, more sustainable run, when deals are announced, than not fixing the stupid share structure and staring at the long-standing toilet share price.
Two weeks misanthrope, planning, tactics and execution. The miracle ActiPatch and all shareholders deserve it!
“LOL, Two Weeks and all BIEL's Problems would be Gone” is a blatant distortion of the truth.
Here is exactly what was written . . .
“Believe me, if I had my hands on the throttle of BIEL for two weeks, doesn't take 180 days! Keith Nalepka and Erin and I and the entire BIEL team would be pitching hard, not biking!”
Couldn't agree more Steve. Believe me, if I had my hands on the throttle of BIEL for two weeks, doesn't take 180 days! Keith Nalepka and Erin and I and the entire BIEL team would be pitching hard, not biking!
Pitching all the wisdom you and others have said for years. We would sell senior executives on the merits of owning the American spotlight by announcing deals ASAP. Owning the media, ramping up the word of mouth in America, "Hey did you hear about the new gizmo so and so is coming out with for back pain and knee pain? This could be what you've been waiting on for years!".
AND, I would immediately increase the BoD to 5 or 7, have Mama W retire, it would be a kindness to her. And fix the stupid share structure so ALL shareholders benefit more, with a longer, stronger, more sustainable run, when deals are announced, than not fixing the stupid share structure and staring at the long-standing toilet share price.
Two weeks Steve, planning, tactics and execution. The miracle ActiPatch and all shareholders deserve it!
Wouldn't want seeing only a portion of my post to be taken out of context.....
My message implied that first KK Whelan must fix both the BoD and the share structure to even be considered as a CEO..... here's what I wrote...
"My senses still tell me there is at least one major deal already in place, except for the singing. I suspect there may be 2 or 3 deals done or nearing completion.
I support two wise schools of thought, as to the best timing of announcing, during this worst time in over a century.
This is the best time because it will be a huge ray of sunshine, not hope, sunshine, because ActiPatch works in over 71% of cases (proven slam-dunk fact) and the spotlights will be all over BIEL and more so, whomever the deal is with, during the shutdown of America. A solution for many tens of millions in acute or chronic pain.
Or, wait until the country is further into the wildest recovery ride ever! My business sense is announce the deal ASAP because waiting will mean any announcement will be lost in a sea of recovery good news. The media, government and the people are starving right now for good news!
Announce now and shine some sunshine on 100 million people who suffer from pain, maybe more, because they feel their pain much more during tough times like these.
Now, if we could just get KK Whelan to behave like the CEO she wants to be and could be respected as, if she just fixed the BoD and grew some and straightened out the absurd share structure she inherited."
My full context has more meaning for me. Without KK Whelan fixing those two things, dark clouds continue to hang over her and BIEL.
My senses still tell me there is at least one major deal already in place, except for the singing. I suspect there may be 2 or 3 deals done or nearing completion.
I support two wise schools of thought, as to the best timing of announcing, during this worst time in over a century.
This is the best time because it will be a huge ray of sunshine, not hope, sunshine, because ActiPatch works in over 71% of cases (proven slam-dunk fact) and the spotlights will be all over BIEL and more so, whomever the deal is with, during the shutdown of America. A solution for many tens of millions in acute or chronic pain.
Or, wait until the country is further into the wildest recovery ride ever! My business sense is announce the deal ASAP because waiting will mean any announcement will be lost in a sea of recovery good news. The media, government and the people are starving right now for good news!
Announce now and shine some sunshine on 100 million people who suffer from pain, maybe more, because they feel their pain much more during tough times like these.
Now, if we could just get KK Whelan to behave like the CEO she wants to be and could be respected as, if she just fixed the BoD and grew some and straightened out the absurd share structure she inherited.
No Better time!!!!
BIEL should be a SuperStar American company, known by every American on the planet - athletes at every level, the military services members, first responders, acute and chronic pain sufferers, everyone.
USPTO Patented, miniaturized, inexpensive, drug-free, side-effect free, FDA cleared as a MEDICAL DEVICE for many indications AND general musculoskeletal pain and trading at $.0006? Are you kidding me?
There should be deals IN PLACE with successful players who can put ActiPatch on every retail shelf and in every home, car, truck, dressing room and gym bag in America!
Expand the BoD, fix the self-serving, outrageous share structure and fix the one component I suggested, over 18 months ago, was preventing BIEL's success - it should be glaring now! Most know what it is and are shaking their heads in amazement!
Interesting read - March 12 post #28717.
My first mention of Founder's Syndrome.
"No", "My way or the highway", stubborn, defiance, blame all others, suppliers, employees, stupid customers . . . are all part of the simple syndrome. Add in a large touch of the 'Biden Syndrome', we are seeing unfold before our eyes, and you have the scope of the problem. And, it never gets better! Ever!
Successful CEO's of public companies have a history of successes during their careers, partly formed by watching and listening to others. They are an amalgam of good planning, negotiating, delegation, deal-making and good timing. No place for the inexperienced or inept.
Fixing BIEL and positioning it for success, after 15 years of ineptitude and a cantankerous former CEO, is a walk in the park, by comparison. Smartest company owners are those who bring in the right people, like Keith Nalepka, and then leave him alone to get the job done. Didn't happen. February 2017 was the issuance by the FDA of its clearance for the foot and knee and not one deal since - 3 years of Doctor No! 6 months since the former CEO opened a huge door for BIEL to succeed and not one deal since! Without deals, no sales! Brilliant device ActiPatch, huh? Who says, "No"? Crazy, unglued says, "No", that's who! Deal-making is an art form, closing deals is an art-form, ask Keith Nalepka, he's been selling and closing deals for years. Make the first deal, others will follow. So simple.
Fix the BoD, fix the absurd share structure. Fix the Founder's Syndrome, fix something, cause this ain't workin, by the current CEO's recipe for success - 180 days! So simple.
Or the Whelan family simply surrender and cancel 28 Billion, or more of the 35 Billion shares they control through IBEX and St. John's shares and potential shares by convertible loan notes to lighten the BIEL share structure, so it can run longer and higher, when deals are announced.
That plan would have left the Whelans with approx 7 billion shares, some felt it should be less to lighten the load as much as possible. Former CEO said his usual, "No", to the offer of help, he asked for so he could retire as he did to deals with CVS, Dr. Scholls and KT Tape in his last year or two.
No one in the group that responded was going to make a dime. It was called helping him, turning the company around, increasinf the BoD, fixing the share structure, injecting some operating funds, making deals and generating sales - Imagine!
The math worked out well for the family and ALL shareholders - imagine that! The value of 7 Billion @ .0045 is the same as what they have at .0007 or so, therefor, anything above .0045 is big gravy. Would you rather be in the pennies or remain stuck twisting in the Trips Toilet?
The self-serving share structure is the crippling legacy of the former CEO. Admitting that is admitting the obvious. Fixing it and undoing the damage to the potential of what could be a successful little company would be smart and wise fixing the obscene!
BIEL should be a SuperStar American company, known by every American on the planet - athletes at every level, the military services members, first responders, acute and chronic pain sufferers, everyone.
USPTO Patented, miniaturized, inexpensive, drug-free, side-effect free, FDA cleared as a MEDICAL DEVICE for many indications AND general musculoskeletal pain and trading at $.0006? Are you kidding me?
There should be deals IN PLACE with successful players who can put ActiPatch on every retail shelf and in every home, car, truck, dressing room and gym bag in America!
Expand the BoD, fix the self-serving, outrageous share structure and fix the one component I suggested, over 18 months ago, was preventing BIEL's success - it should be glaring now! Most know what it is and are shaking their heads in amazement!
No one should ever call the CEO. CEO should be too busy. No answers will be given. It is the best thing possible for BIEL's competition in the drug-free pain remediation space for the CEO to be distracted by engaging in such foolishness as "call me and this is what I'll tell you.".
It's business and BIEL, a publicly traded company, with its share price in the toilet for years, because of the bungling of the former CEO, is not a playground for CEO wannabe apprentices!
Make the deals, fix the BoD and the outrageous share structure that was manipulated to produce ill-gotten shares for the Whelan family interests.
Deals, sales and profits, everything else is childish and foolish nonsense!
Since 2008 there has not been any kind of meeting and the movement of the company to the Pink Sheets by the former CEO, while certainly saving on regulatory expense, was primarily done by the former CEO to remove BIEL from regulator filing requirements and shareholder scrutiny to allow the former CEO to implement his IBEX, St. Johns revolving loan conversion to shares program.
The one the two investors from NYC did very early on and made millions at. The former CEO was angry that they made money and he didn't, so he grabbed onto the concept and did it himself. Sort of like the CVS/Protex teamwork to put ActiPatch into the CVS 200 store trial, then the former CEO pulled the plug, while Keith Nalepka was working on a chain-wide deal, as requested by CVS, to do it himself, said, "No", to CVS, and had another firm design a different ActiPatch sleeve, thus completing the end-run on Protex.
The only end-run BIEL ever pulled that led to success, sort of, was the one that gave Whelan family interests billions of cheap shares, if that's a 'win'. They ended up in a regulatory mess, for years, costing hundreds of thousands in legal fees, damaged reputations, an illegal BoD, Director resignations, fines, SEC barments, sp in the toilet for years, no deals and putrid sales. What a cluster, from start to finish!
Does anyone but me, and a few others with good business and common sense, think it's past time to make the deals, fix the BoD and the outrageous share structure that was manipulated to produce ill-gotten shares for the Whelan family interests? It's way past incompetence or defiance the MO of the former CEO, it's at the point of negligence and a few other desciptors!
Yes......
You're absolutely right. There is no comparing. You can hear the interview for a job....
"Yah, got into a spot of trouble with the SEC a while ago, no big deal, couple of hundred thousand dollar fine and barred for a year from anything to do with penny stocks and maybe half a million in legal fees. It was nothing compared to some of the big boys like Pfizer and JnJ, they get fines in the 10's of millions. Hey, I should've asked, when do you want me to start?"
"Uhmm, we'll get back to you...."
There is zero difference in the amount of the fine and the length of the SEC bar - prison whites are prison whites, they both have numbers, 3 years or 100.
My point was that whatever the CURRENT CEO can do quickly to increase the BoD, ask her mother to retire and fix the outrageous share structure will eradicate the toxic stain from the past still stinking up the joint. It shouldn't be, she and the employees, the company, all deserve a fresh start! His legacy is in concrete, she can form hers as a stand-up businesswoman who did the right thing.
The SEC debacle was not the BIEL team and not its shareholders and bot her - she was caught in the crossfire, as the former CEO was 100% in charge. I asked the question, at the start of the SEC debacle, "Who does that?". This is now HER moment to put the past where it should be, in the past and position ALL shareholders for a longer, stronger run on deal announcements, with much stronger sp sustainability. Only fools don't change their minds....