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He's there.....Wharton rocks, now pay attention class......remember this date.
No kidding!!!!
Not in a million years!
"How dare her? Show that her company stock is a triple zero, this women is pissing me off! What a arrogant piece of ship!"
"Still deep in the toilet because of (i)the toxicity the former CEO's (and current CEO's) name is still still involved and the SEC debacle; (ii)no CE Mark; (iii)no deals, but that issue will be resolved by VP Sales Keith Nalepka, and (iv)the outrageous share structure. Solutions provided, no need to repeat them. Not complicated."
The deals will come, but the other 3 issues are the direct responsibility of the current CEO. You would think she would resolve those without delay so as to maximize the upside sp potential. How long does it take? Tick tock . . .
Total nonsense - reading everything or nothing for 5 years means zip.
Product works amazingly well, not up for debate, irrefutable.
Nonsense like former CEO reading that average FDA clearance/approval, whatever, costs $30 million, so he screams loud and long that BIEL spent $30 million. Total lies. BIEL spent, maybe $1 to $2 million, tops. Whelans and lawyers got the rest.
Efficacy of ActiPatch is positive in >70% of cases. Also irrefutable. It is a brilliant, patented, drug-free, side-effect free, pain management device for the masses. Share price has been in the toilet because of former CEO management styles, of people and the business.
Still deep in the toilet because of (i)the toxicity of his name still involved, (ii)no CE Mark, (iii)no deals and (iv)the outrageous share structure. Solutions provided, no need to repeat them. Not complicated.
Not bad.....considering Boots, Braun, Spain, mundi et al....
Around 10.
Perhaps reality is finally setting in?
There are no mundipharma sales other than shipment of a few devices sent to Singapore because Australia, like numerous other countries rleis on the CE Mark as its prerequisite benchmark, just like the EU. No CE Mark, no exports to Australia. I posed a very simple question in post 216997, but no guesses so far. The estimated figure is staggering and knowledge of it would ruin the weekend.
I suspect there was never a formal deal done with B. Braun, talks, yes, deal, no, because a deal would have produced sales! Same with the VA, a deal would have produced sales. The train remains in the barn.
Most amazing disruptive technology in pain management ever, and the train to success for shareholders, all shareholders, is stuck in the barn. Needs effective management fixing the share structure, eradicating the toxicity of the Whelan name, caused by the former CEO and making deals. Deals mean sales and making deals is virtually impossible with red flags popping up.
Google BioElectronics Corp. red flags, something retailers and large players in the pharma space do every day, as part of their DD, and just read the lead-ins, don't even open a link. First 5 results lead with: - "Huge Scam; Bioelectronics et al SEC.gov.; Fails to move up; Drops after FDA meeting; and Crashes once more.".
I would rather see leads-ins on google like: - "BIEL cleans house; BIEL courageously rectifies share structure issues; BIEL majority owner steps aside to allow success; BIEL in talks with . . . . . ; BIEL now the retail and OEM leader in the pain space; and, BIEL stock price soars with new developments". The difference in the two scenarios is about two weeks of dynamic, effective leadership and management.
No.....the redemption price is predetermined in the convertible note. For example, let's say the share price at the time of the loan was $.003. The share issuance price on redemption at the 50% scenario would be $.0015 based on the amount of the principal plus interest. Easy to see that a lender would be 'under water', on upside potential of the 50%, so to speak, at .0008.
The 50% factor is a protection against a lower price, a bonus if the price is higher. The loans are not without risk and this fact has been under recognized. I can say that such loans were greatly appreciated and kept the closing doors open, more than once.
Can anyone guess how much the oversight expiration of the CE Mark has cost BIEL in lost sales? The number is known.
I don't mind if the completion of the turnaround of BIEL takes a year, or two years. What I mind is a self-appointed CEO prolonging the 10 years of toxicity elements associated with the company by announcing a self-declared hiatus of silence of 180 days to buy time and thus expecting to avoid shareholders demanding better management.
Who in their right mind comes up with a general hiatus of 180 days? No other well-managed company in history! The way turnarounds are structured is to make a plan, announce the intentions of management and implement it. Reverse the damages and implement change.
What happened with BIEL is that a 7-step turnaround plan was carefully designed by a number of astute and experienced business people willing to respond to the former CEO's request for help AND invest a few million dollars. That produced another erratic change of mind in April 2019, another, "No, I'll do it myself", and a self-appointed CEO 6 months later in October 2020!
Imagine what could have happened in that first 6 months! Imagine what Keith Nalepka and the terrific BIEL team could have done in that time to reverse the prior damage and remove the obvious toxicity causing the red flags! And then, the new CEO wants another 6 months to effect a turnaround? But not the one she said, "No" to. Just another 6 months of time, without fixing the share structure, without dealing with BoD issues, without dealing with the name toxicity, just another 6 months.
Red flags don't go away, on their own, they have to be fixed and the plan has to be implemented starting yesterday - but there is no plan! Just, "Call me and here's what I'll tell you......I'm doing nothing". And thus, we remain in the toilet with a share price lower than the day FDA general clearance was received, just a few weeks ago. $.0008 and it should be a few cents and climbing steadily. Swell.
Easy to recall the run in 08 and 09 when BIEL ran from $.004 to $.129 on a bogus rumor that the company would receive FDA clearance in a few weeks.
Why no major run now, after recently receiving FDA general musculoskeletal clearance? Too many bungles by the former CEO, outrageous share structure, the toxicity of the Whelan name still in the forefront as a result of the former CEO since 2 out of 3 Directors on the BoD are Whelans, the former CEO said "No" to several of the major players in the pain space. Imagine defiantly bleating, "No" to Dr. Scholl's, CVS, KT Tape? Imagine allowing the CE Mark to expire! Imagine that history of bungling and not wanting to clean house instantly to reverse the negativity! Big players don't like red flages, imagine ignoring that fact! Oh baby!
Fix the share structure, fix the name toxicity, make 2 deals and watch the sp climb out of the toilet beautifully. Waiting for the 180 day deadline is just making it more difficult for Keith and Erin to make deals. Google BIEL and look at the red flags. Remove them and prove that stupidity, stubbornness, ego and pride are not managing the company. What's that? You don't want the sp at 5 cents? Rather stay in the toilet after 10 years? What!!!
Easy to recall the run in 08 and 09 when BIEL ran from $.004 to $.129 on a bogus rumor that the company would receive FDA clearance in a few weeks.
Why no run now, after recently receiving FDA general musculoskeletal clearance? Too many bungles by the former CEO, outrageous share structure, the toxicity of the Whelan name still in the forefront as a result of the former CEO since 2 out of 3 Directors on the BoD are Whelans, the former CEO said "No" to several of the major players in the pain space.
Fix the share structure, fix the name toxicity, make 2 deals and watch the sp climb out of the toilet beautifully. Waiting for the 180 day deadline is just making it more difficult for Keith and Erin to make deals. Google BIEL and look at the red flags. Remove them and prove that stupidity, stubbornness, ego and pride are not managing the company. What's that? You don't want the sp at 5 cents? Rather stay in the toilet after 10 years? What!!!
Fantastic chart..... $.0007, toilet getting deeper.
Fix the outrageous share structure, the toxicity of the Whelan name, the Board of Directors, stop Twittering, and let Keith Nalepka and Erin make you wealth by making deals that are good for all shareholders and pain sufferers.
The only distraction is the toilet share price of $.00075. Since when is having the most magical pain device in the history of the world, patented by the USPTO, no deals and sales in the toilet with the share price getting the job done?
The stink of BIEL, at the moment, is not because of distractions, it's because of a lack of focus, humility, willingness and the skillset to fix it.
Simple execution of common sense solutions regarding the toxicity of the Whelan name, the share structure and convincing large players that the company is healthy and reliable will do it. Until those things are done, we will have the distraction of the toilet share price.
Obvious
Absolutely not. Any NDA's, if they exist at all, would only relate to activities between BIEL and potential customers/partners.
Nothing to do with other management opportunities to advance the turnaround of BIEL and get it out of the toilet the former CEO kept it in for years and the current CEO has kept it in for almost 5 months.
My sense is the alleged NDA's were also perhaps a ruse, similar to the suggested need for a 180 day turnaround hiatus to make BIEL successful. To keep everyone quiet and submissive?
Why do that at all? Why mention either NDA's or 180 days? Why not just remain silent? The need to Twitter and prattle is amazing! Just remain silent, make a plan, lead effectively, implement the plan, make deals, create success. Ssshhhh.
180 days is 25.7 weeks, not 18 weeks.
She is not just a "new CEO", she has been a self-appointed, former CEO appointed, nepotism driven, C Suite executive at BIEL for many years. No learning curve.
"I just want the business fixed. I have met KW on several occasions at BIEL and find her to be pleasant and professional...she's all in at BIEL. Either BIEL works or she is done...her words. Gotta love that!"
I wonder why someone could appear to have such a good head on their shoulders, and I see she does, and NOT implement whatever positive steps are necessary to assist the turnaround process. I suggest revisiting that one on one discussion and try to engage and stimulate a continuum.
"It is not like any shareholders depicted KW as a morbidly obese woman in lingerie sitting in front of a plate filled with donuts, right?
It is not like any shareholders had pictures of AW swirling in a toilet as recently as two days before this death, right?
It is not like any shareholders referred to AW as "Andrew "the Dunce" Whelan" and stated "Whelan Morons! The Dumbest Family on Earth", right?
It is not like any shareholders had pictures of tombstones and "How to right an obituary", right?"
Amazing - First I've seen any of this.
What I have suggested is that it is never a good idea to speculate a turnaround timeline. Further, it was unwise to self-impose a deadline. I still suggest the motive was to shut up naysayers.
I still say a plan should have been designed and implementation commenced. It's not all about deals and sales. Far from it, the deals and sales will come. It is all about turnaround and 6 months would not be a bad strategic planning window, but never discussed outside the office. Post #216584 is indicative of my opinions.
Wise, very wise, but still needs work on structure and pressure. . . .
As to accountability for self-dealing, governance and fiduciary duty, better left to others more qualified and able to sort out.
Not bad, on the surface. But, to have gone silent in October, 2019, or perhaps 3 years ago, February 2017, when the foot and knee FDA clearances were issued, or at the issuance of the current 180 days current CEO self-imposed deadline, would have meant acquiescing to the ongoing inadequate management of Whelans. I look at it this way, ActiPatch remains somewhat alive, but in spite of the former CEO and it is a testimony to the entire BIEL team!
Going silent would have prolonged the required changes and given her the silence she was asking for! And ignored the urgency of fixing the company, as part of a turnaround waiting for 10 years to happen! "Maybe this 180 window will get everyone off my back." For what? 180 days of doldrums, it would seem. BIEL needs fixing, not just deals and sales! She wanted to shut everyone up! So obvious!
The 7-step plan, the 3-step plan, any plan at all should have been designed and rolled out months ago and here we are, still in the toilet of .0008 and nothing, not one thing has been done. But, who am I to say anything, she doesn't work for or with me. Psssst, she works for all minority shareholders! The former CEO essentially screwed himself and all shareholders for 12 years, that I personally watched, no question of that. Why stay silent and watch the fox plunder the company for 1 minute longer? That's what sheep and chickens do!
And it's nothing to do with anyone not carrying out 'my' plan', I couldn't care less. It's not about ego here, it's about effective management in getting a pain device to market for the benefit of pain sufferers and all shareholders. That would be a breakthrough in the annals of BIEL history, wouldn't it? Wish I, and 10 others, could say more.
The truth is astounding, as evidenced by the doubts when information has been shared in the past. Then, as always, folks are amazed when the information turns out to be accurate. You can't make this stuff up, in many cases it's beyond the imagination. Only idiots do this to themselves, or defy positive changes that will make them wealthy! Or the accountability to be found in the dismal share price $.0008.
Not holding my breath PT....
In addition to the two fixes still required relating to the toxicity of the presence of the name of the former CEO and the outrageous share structure, the recent behavior of the current CEO creates wonder.
Bizarre and narcissistic behavior toward well-meaning minority shareholders and the incredible Twitter and rude photograph of her reading material speak volumes. Biggest problem is her lack of understanding or caring of how her behavior is perceived by others. Dignity and statesmanship seem absent.
Biggest error in judgment, so far, is her declaring the 180 day window for her to achieve success. No wise CEO would impose such a deadline on themselves. It indicates a lack of experience and wisdom. Shareholders prefer a plan, best efforts and results. As you say, we'll find out soon. What an incredibly difficult journey for a brilliant little device like ActiPatch.
By the way the fixes for first two issues could be implemented within 48 hours.
"An Offer Has Been Made To Call Biel
Call and Ask Your Questions.
Kelly Whelan
@Kel928
Pick a phone up & call me. 301 874 4890. This is what I’ll tell you. I’m not surrendering shares & I’m not hiring a new CEO. Don’t like how the Company is managed? Sell your shares. No one made you invest & no one is making you stay. #nanecallingisjuvenile #upfront #likeitis"
Why call? Maybe to leave a message? Certainly not to be 'told' what you've already been 'told' is going to be said. There's a fundamental rule in sales, management and leadership, that is not part of the Whelan style - quietly sell, don't TELL, TELL is like YELL!
How about leaving this message:
"I called, couldn't reach anyone, so here what I'll share with you. I have an idea that may allow you to create more wealth than you are now, faster and with greater sustainability. Don't surrender shares! No one suggested or 'told' you that you should do so.
Situation 1
At the moment you own roughly 35Billion shs of 62Billion, if all notes are redeemed for shares. At $ .0009, that's $31.5 million. Maybe more now, but let's use these numbers.
If, repeat, read my lips, you owned 7 Billion shares @ $.0045, that too would be worth $31.5 million. Ok, got that? Same wealth.
Now, since BIEL has been trading in a toilet for years and seemingly stuck there at .0008 to .0009, swirling, even after FDA general OTC clearance, would it be a good thing if the sp rose to $.008? Of course. What would your 7 Billion shares be worth? Stay with me. . . . $56 Million. Now, tuck that away.
Situation #2. - The former CEO was not generally popular at all. And, he didn't care. He didn't endear himself to people. He often stated he loved a good fight. He fought with many people. He often expressed that he thought others to be stupid, and demeaned them, specifically referencing employees, shareholders, suppliers, like Protex and Scott Specialty,and many others, customers, like Dr. Scholl's, CVS and KT Tape, and many others, regulators, lawyers, yup, just about everyone was stupid. And most everyone picked up that he thought they were stupid because of the way he treated them. I could've made it short by saying everyone, but I want you to understand. And, if you think for one second he excluded family members, think again. everyone was victimized, well known fact. Nothing personal, it's fact, sad, but fact! Okay, we got that out of the way. Sure glad you've got a long message capability, cause this is really important. For you, not for me, I've known this for a long time, years really, but I want to share it with you, to help you.
Here's the problem, or opportunity, call it what you will. The former CEO's name was and remains all over BIEL and if his name is mentioned, people recoil, remembering how he treated them and others.
Solution to both situations:
If you could somehow 'disappear' 28 billion of your 35 billion shares and 'disappear' the odor associated with the former CEO's name from BIEL, and if that would increase the probability for the share price to more easily and more quickly rise to $.0045 and then $.008, would that be a good thing? After contemplating that doing neither will probably keep the share price in the toilet? But, don't surrender anything, or disgorge or give anything up, just 'disappear' both, because both situations are directly and negatively affecting you. End of message - Bye bye.
psssst...business wins produce more than $ .0008....every time! No business wins.
Never happened. . . .would have been a great idea. How this has been manipulated is this. During said discussion, on March 13, 2019, being referred to, a discussion between 2 people, I stated that many people had pleaded with the former CEO, unsuccessfully to date, that he simply retire. The other person on that call had no idea of that.
Before that time, the CEO made the call we all know about, then the management remediation plan was designed and sent to the CEO. No one was told when the former CEO made the call, other than March of 2019, it was not March of 2019. Or the accurate date of when the plan was prepared or presented, to see who claimed to know what, who embellished, who corrected, no one did, accurately . . . . It was a great plan. In a very short period of time after presentation, 4 hours, to be precise, it was rejected, indicating the CEO had changed his mind, yet again. I won't say more of the details of that or what transpired immediately after that, other than to say that a number of very serious people prepared to invest and use their talents and experience to manage BIEL out of the toilet, decided collectively, "This guy just said "No" again, "No" to a lifeline that will make him and his family well over $100 million."
When someone reacted with "You can't fix stupid", I responded with, "He's not stupid, he's unwell and all the personality traits are exacerbated by the illness." and we all walked away. A list of prospective names for election to a new and invigorating BoD was prepared, I have that list. Names were removed by the group, forming a short list, I have that list. There were conditions of serving and reasons for removing names discussed. They remain confidential..
After the last "No", by the former CEO, a memorandum was drafted. I have that. It contained, rather prophetically, a caution of concern regarding the rapidly declining health of the former CEO placing him in real jeopardy, in very humanistic terms, and expressing the opinion that there was a strong likelihood that he would not be able to continue at the pace required to navigate the firm through the next six months. It went on to say that the firm needed a succession plan in place, a strategic plan in place to turn events around, and access to new capital. All sadly very accurate and none of it needed to happen, the source of much head shaking. . . . . I'm not going to say again exactly what must be done to save this company from itself, tired of doing that. Maybe the man who said, "You can't fix stupid" was right, I was hoping that not to be the case. In any event, no personal comments or insults, just the share price. I'm done trying to help.
The company, specifically Kelly Whelan, is aware of every post made on iHUB. Why waste time and effort educating deaf ears who beg that people telephone her and in the same message insultingly lay out what she's going to say? When one can simply post the thoughts and spare the defiant insults. "Call me and here's what I'll tell you". Incredible, as it may seem!
No, I'm not confident at all that anyone is going to encourage, convince, educate or shame our self-appointed CEO toward doing anything positive or close to prudent in lifting BIEL out of the toilet. Obviously the focus must be on building and achieving a business WIN.
But BIEL has NEVER had a BUSINESS win...only regulatory wins, thanks to Drs. Staelin, Koneru, Rawe and others, that have not turned into anything resembling a business win. Keith Nalepka and others know best how to sell ActiPatch and create sales wins, it's what THEY do. But that's not a business win, a corporate win.
BIEL remains stuck in the sp toilet, 2 weeks after FDA medical device general pain OTC clearance. Impossible? Yes! Why? Red flags of resistance and caution because the former CEO insulted, blew off, demeaned, pulled end-runs, SAID NO to Dr. Scholl's, CVS, KT Tape, Protex, shareholders and employees for years! But, there is a solution.
If Kelly Whelan, just had to make herself CEO, CFO, President and a Director, why not get on the road in the first 10 days after October 6 and visit and explain her father's dementia and defiance and apologize, just apologize? Then do the same with employees FDA, CE Mark agents and shareholders? There is not one person on earth who would not have appreciated the humility and said, "thank you."
And shareholders get, publicly, "Call me and here's what I'll tell you.....". You, there is a 'style' issue here. A style 'issue'. As I reflected recently, here as a matter of fact, I have spoken before many people over a lot of years and included this.....'people almost never remember what you say to them, people always remember how you made them feel.'
For 12 years, Whelans have needed to do 3 things. Take themselves completely out of the equation, because people react negatively to their 'style'. Fix the share issues, and make deals. But those changes require attributes Whelans don't have....wisdom, common sense and genuine respect for others. And that's called narcissism.
Until there is change, there will be no change. People will come and go, someone else will poach BIEL producers, they are a great team, I know. Others will say, "Why don't you come, work with us?" or they tire and move on. It's happened many times over 12 years, I know. Publicly fix the issues of the toxic Whelan name being seen anywhere, the stupid share issue and get on with creating business wins! Not fixing the issues for one day longer is narcissistic stupidity. Read up on NPD, it's in the DNA folks!
Large dose of common sense...how refreshing !
100 million shares would only amount to $80,000.
^ ^ ^ ^ ^ +
"Most Certainly Was, All Was Done Back Channel!!
GGG Investor Group Knows of the Attempt.
I Was Offered A Seat On The Board Of Directors,
All I Had to Do Was Talk Andy Into Retiring.
I Opt To Buy The Bridge For Sale Instead!!
Better Deal.
Several Were Offered Board Seats!!"
Untrue
Untrue - Prove it
Untrue - on list of interested shareholders only, untru
Untrue - absurd
Who cares
Who cares
After DD, yes, quite true
Who cares?
Mission accomplished, multiple FDA OTC clearances including general musculoskeletal. It's what management tried to do and failed at for 12 years.
So what? Who cares?
Share Price still in toilet - $ .0009
No deals!
Toxic name still associated with BIEL....SEC....get the RED FLAG name out of there!
Absurd share structure
Absurd BoD
No one cares about clinical data, trials, costs - 3 words - ActiPatch FDA CLEARED
Until the name is gone, the red flags remain and Keith Nalepka may be pitching with both hands tied behind his back. Silence is not good!
Too funny for words
Reading the document enlightens!
Read 216099 again
"Close your eyes, imagine what the sp would be today, without 1 share or one iota of Whelan family control changing."
3 simple DD questions:
1. Seen or read the alleged NDA's?
2. Date of execution of each?
3. What has transpired since on each opportunity?
Here's even more simplicity. Tic Toc
"No" was the repeated MO of the previous CEO. Why? Sound familiar? Don't like silence, silence means "No!" Why silence as to progress on any deal, any one of the 7 or 8 on the White Board since early October?
Keith Nalepka is attempting to reverse previous CEO "No's" and to pitch the OEM market to generate deals. 4 1/2 months of silence. Is the marketplace reluctant to proceed with deals, due to the toxic past? 4 1/2 months of Marketing & Sales silence has nothing to do with corporate restructuring to get BIEL out of the absurd 10 year sp toilet it's in:
February 20, 2020
1. Toxicity - Whelan name is toxic - a negative past is a huge red flag caution impediment to deals
2. Board of Directors - Whelan name toxic, create new BoD or no deals
3. Share Structure - Fix it fast, as laid out, or lose it all
Silence in business means fear and/or "No!"....Tic Toc
Silence and languishing in the share price toilet, especially after general musculoskeletal clearance, think about that - general FDA clearance, screams loud and clear that all fronts should have been attacked simultaneously starting in October - 4 months ago.
A "Plan" was designed, at the request of the former CEO, last April, 10 months ago, and dropped. The last major stupid "No", as it turned out. Not a matter of blame, the guy was clearly unwell. Close your eyes, imagine what the sp would be today, without 1 share or one iota of Whelan family control changing. Half a dozen shareholders could've led the attack of change and helped Keith steer this thing to 5 cents today, without 180 days crap or Twitter or alienating anyone. Called prudent, innovative, success management, with a pristine, baggage-free, no-nonsense, no drama, corporate profile. Imagine.
Love crisp management doc - it's how I roll. Of course they are reading iHUB.
1. Follow plan
2. Follow plan
3. Yes, thought it was clear
p.s. Pour wine, watch sp rise and deals get cut. Sorry for the verbosity. Is anyone starting to get how simple and quickly this ship could have been righted, 10 months ago, in April, with the Whelans not giving up a damn thing?
Here's even more simplicity. Tic Toc
"No" was the repeated MO of the previous CEO. Why? Sound familiar? Don't like silence, silence means "No!" Why silence as to progress on any deal, any one of the 7 or 8 on the White Board since early October?
Keith Nalepka was totally positive going back to reverse previous "No's" and to the big OEM market to generate deals. But, monthly fluffs say nothing. Did the marketplace push back, reluctant, because of the toxic past? If so, the silence is deafening, because most will not say anything beyond, "We'd love to, but", or, "My hands are tied", or, "I wish I could, but" or, "Management doesn't like red flags and you've got a red flag!".
With many weeks of silence, let's change and tighten the plan:
February 20, 2020
1. Toxicity - Whelan name toxic - past is a huge impediment to deals
2. Board of Directors - Whelan name toxic, create new BoD or no deals
3. Share Structure - Fix it fast, as laid out, or lose it all
Silence in business means fear and/or "No!"....Tic Toc
Sure, thanks for the suggestion. Believe it or not, I would rather communicate with bullet points, short, crisp and to the point. Hate lengthy communiques! But, unless you're communicating within a well-oiled team involving mutual trust, it's better to be detailed.
SYNOPSIS OF A 3-STEP MANAGEMENT REMEDIATION PLAN
February, 2020
1. Share Structure
2. Toxicity-Whelan name conjures up much from the past for too many
3. Board of Directors
Requires a little explanation of the dynamics at work. It's complicated. "No" was the MO of the previous CEO. Why? Sound familiar?
Easier to say "No" to avoid making a mistake - under the misconception that to make mistakes most often means people will dislike you. Therefor, do not make "Yes decisions, even when they're good for you, therefor, no risks, no mistakes, you will be liked, or rather, not disliked. The deadly combination of the perfectionist with Founder's Syndrome. The name needs to disappear, because of its association with the past.
I have included the following management and leadership adage in several speeches. . . . .the little things you pick up along the way.
"People will always forget most of what you say to them . . .
People will never forget how you made them feel"
The toxicity of BIEL is directly related to how the former CEO made others feel constantly. Buyers, senior members of management of several major companies, FDA staff members, shareholders and service providers over a span of 12 years, that I personally know of were demeaned by the smartest guy in the room at all times, for years. And yet ActiPatch has survived that abuse. A testament to the device!
When I say toxic, I mean like sulfuric acid on your skin. People are reluctant to yell and scream and publicly reveal their feelings, but many shareholders and the others listed above are really angry. People never forget being embarrassed and demeaned, they mostly remain quiet, but they never forget! So, change things. Present a new profile. The name must disappear, how simple can this be? Call me? Why, the situation is indefensible, only to be judged by the share price - .0008 and the still defiant position that nothing will change. Call me! And this is what I'll tell you! Now, how intelligent, how dignified, how professional is that for a CEO of a public company to even think?
But, the toxicity and the share structure keep BIEL in the sp toilet, 12 years!. How much intelligence is required, if management is competent, to figure out that the best way forward is to fix both? Or is self-interest the guiding light? Hmmm? Is the trading price of BIEL still in the toilet in the 000's? Why? When it should be in the pennies already. General FDA musculoskeletal clearance, what!!!
What is confusing about fixing the share structure in such a way that the Whelan family holdings at around 35 BILLION shares @ .0008 are worth the same as 7 BILLION shares at .0045? A reduction of 28 BILLION shares. Would you rather have money invested in a company with 62 BILLION shares or 34 BILLION shares? Remember, while we are all in the sp toilet, so are the Whelans. You would think they would at least see the way to best help themselves . . .whatever helps them helps all shareholders!
SYNOPSIS OF THE 7-STEP MANAGEMENT REMEDIATION PLAN DECEMBER 2019
1. SHARE STRUCTURE
2. TRANSPARENCY
3. FAIR OFFERS TO SHAREHOLDERS
4. TOXICITY
5. BOARD of DIRECTORS
6. COMMUNICATION NALEPKA KONERU
7. NEGOTIATE & SIGN DEALS AND DELIVER ON ALL PROMISES!
If honesty and self-reflection were to prevail, without hype, without embellishment, and there is one other person sitting quietly, asking themselves - what are the issues with BIEL that are preventing the sp from rising from the toilet it has been in for many years, the answers are not simple, unless one has been involved in the details for those many years and has a knack for getting at the truth.
I can only use the same logic that led me to infer that there was a relationship between low sales volumes, dried-up sales in the EU, including the UK, where ActiPatch had been added to the NHS insured list for patient coverage on prescriptions for the BIEL device. As many know, the final piece was the "deferred sales" of over half a million dollars.
My inference was that somehow the CE Mark BIEL had was no longer. Horrified, I speculated it had expired. After a couple of days, speculating on my approach, I contacted someone in the EU and was advised the BIEL CE Mark was no longer valid. I then called Andrew Whelan and asked him as to the status of the Mark and was advised blah, blah, blah. I responded that it seemed to me that he had not paid the agent monies owed and the Mark had been cancelled. He chuckled and responded, "something like that, we didn't have the money, but we're getting it back.".
We all know how devastating that 'cluster' was, and remains, regarding EU sales and now opportunities in Australia, which piggybacks on the CE Mark as a requirement for Australia and New Zealand. And, there you have it. Millions lost, credibility lost, efforts unrewarded, and still no CE Mark.
Using that same logic on current issues. 2 FDA medical device clearances in February 2017 for Plantar Fasciitis and the knee, followed by RecoveryRX, followed by general clearance THIS MONTH for general musculoskeletal pain. Not pain for a particular muscle or particular indication, general musculoskeletal pain!!! The Holy Grail of pain. It does not, can not, get any better!
So, why do some, as I have, ask themselves, in the quiet of the night, if they are deadly honest,
"Why is the share price still in the toilet?"
Has anyone asked themselves,
"Why are there no deals? Why are the big retailers not jumping all over this? Why are large OEM players not lined up to sign deals? Why has the VA not fully engaged? Why, at this very moment, is the share price at $.0008? Is this ok? Is this to be expected? Is this acceptable?" Ask those questions, honestly.
My sense of logic, the same sense that sniffed out the CE Mark debacle accurately, says no, the situation defies logic and therefor there must be logical answers, logical reasons, because the ActiPatch device is magical, it works and there is a huge global need for it.
The answers were found close to home by asking questions in the marketplace. It's a really small world out there. Large players in the pain market, CVS, Dr, Scholl's and KT Tape were rebuffed when told told "No" by the former CEO. Fact. Some speculate as to the viability of those discussions and deals. Fact. Details of the potential deals were learned, even at the time, the former CEO was urged 'make those deals', I have the proof of that. Fact. "No" prevailed and the shock and amazement in the pain world and elsewhere set in. And remains. One cannot say "No!" without repercussions and we are living those now. All facts.
I speculated, with Andrew Whelan, that it would be difficult, if not impossible, to re-open those doors, after they were slammed shut by BIEL. We know that since the CEO change, BIEL has gone back to various parties to try and re-open discussions. Fact. I speculate problems exist in that there may be a general credibility issue relating to BIEL delivering on promises made. I speculate there is toxicity associated with the name and actions of the former CEO, that BIEL is a family controlled company and with nepotism. Only Keith Nalepka, with his credibility, can get deals done at this point, but not without fixing other issues and quickly.
I speculate that the second major issue is the outrageous share structure, the topic of a full=blown SEC investigation, decisions, fines, barments and here we are with a potential share load of 65 Billion shares if and when all convertible notes are redeemed, including interest. Fact.
So how does one quickly fix the problems and effectively manage the turnaround of an ailing company? First, fix the problems, not the blame. Second, plan the turnaround. Identify the problems and negative perceptions. Move quickly, like lightning, to put the company on a better course.
BIEL does drastically need turnaround solutions in a number of areas, most of which remain unaddressed and certainly do not require 180 days:
The 7-Step Management Remediation Plan
Only time with tell if Patricia and Kelly Whelan will do the right things, or not. It is to their direct financial benefit to just bite the imaginary bullet and protect themselves by incorporating vision:
1. SHARE STRUCTURE - Immediately revise the outrageous shareholdings of the Whelan/IBEX/St. Johns on conversion of all Promissory Notes of around 62 billion shares. The Whelans would own around 35 billion of that 62 billion or 60% +-. Reducing their shares by 28 billion, to 7 billion, new total becomes around 34 billion, they would then own 25% +-. Some say it should be reduced to 3.5 billion, whatever it takes to repair the previous damage. Would you rather own 60%, 35 billion shares, of a crippled company worth nothing and going nowhere fast, or 25%, 7 billion shares of a company under restructuring, that could be worth untold hundreds of millions of dollars?;
SYNOPSIS OF THE 7-STEP MANAGEMENT REMEDIATION PLAN DECEMBER 2019
1. SHARE STRUCTURE
2. TRANSPARENCY
3. FAIR OFFERS TO SHAREHOLDERS
4. TOXICITY
5. BOARD of DIRECTORS
6. COMMUNICATION NALEPKA KONERU
7. NEGOTIATE & SIGN DEALS AND DELIVER ON ALL PROMISES!
This brief analysis may help. It illustrates that after disgorging 28 billion of 35 billion shares and reducing the Whelan holdings down to 7 billion, the sp only needs to rise to .0045 for the Whelans to be in exactly the same position they are in now - the toilet! With the increased upside of a company with 34 billion shares out, not 62 billion! Simple.
Whelan Simple Disgorgement of Shares
62,000,000,000 Existing shares 7,000,000,000 New Whelan share #
35,000,000,000 Whelan controlled
$0.00090 Price $0.0045 Price
$31,500,000 Value $31,500,000 Value
28,000,000,000 Disgorgement
It's called owning a smaller piece of a bigger pie! Only fools don't change their minds. For some reason, the Whelans refuse to see the logic, smaller piece, bigger pie! Called fear. . . Lead, Follow, or get out of the way, but do something . . . tic toc . . . . .
Biggest shame? Soooo fixable.
If honesty and self-reflection were to prevail, without hype, without embellishment, and there is one other person sitting quietly, asking themselves - what are the issues with BIEL that are preventing the sp from rising from the toilet it has been in for many years, the answers are not simple, unless one has been involved in the details for those many years and has a knack for getting at the truth.
I can only use the same logic that led me to infer that there was a relationship between low sales volumes, dried-up sales in the EU, including the UK, where ActiPatch had been added to the NHS insured list for patient coverage on prescriptions for the BIEL device. As many know, the final piece was the "deferred sales" of over half a million dollars.
My inference was that somehow the CE Mark BIEL had was no longer. Horrified, I speculated it had expired. After a couple of days, speculating on my approach, I contacted someone in the EU and was advised the BIEL CE Mark was no longer valid. I then called Andrew Whelan and asked him as to the status of the Mark and was advised blah, blah, blah. I responded that it seemed to me that he had not paid the agent monies owed and the Mark had been cancelled. He chuckled and responded, "something like that, we didn't have the money, but we're getting it back.".
We all know how devastating that 'cluster' was, and remains, regarding EU sales and now opportunities in Australia, which piggybacks on the CE Mark as a requirement for Australia and New Zealand. And, there you have it. Millions lost, credibility lost, efforts unrewarded, and still no CE Mark.
Using that same logic on current issues. 2 FDA medical device clearances in February 2017 for Plantar Fasciitis and the knee, followed by RecoveryRX, followed by general clearance THIS MONTH for general musculoskeletal pain. Not pain for a particular muscle or particular indication, general musculoskeletal pain!!! The Holy Grail of pain. It does not, can not, get any better!
So, why do some, as I have, ask themselves, in the quiet of the night, if they are deadly honest,
"Why is the share price still in the toilet?"
Has anyone asked themselves,
"Why are there no deals? Why are the big retailers not jumping all over this? Why are large OEM players not lined up to sign deals? Why has the VA not fully engaged? Why, at this very moment, is the share price at $.0008? Is this ok? Is this to be expected? Is this acceptable?" Ask those questions, honestly.
My sense of logic, the same sense that sniffed out the CE Mark debacle accurately, says no, the situation defies logic and therefor there must be logical answers, logical reasons, because the ActiPatch device is magical, it works and there is a huge global need for it.
The answers were found close to home by asking questions in the marketplace. It's a really small world out there. Large players in the pain market, CVS, Dr, Scholl's and KT Tape were rebuffed when told told "No" by the former CEO. Fact. Some speculate as to the viability of those discussions and deals. Fact. Details of the potential deals were learned, even at the time, the former CEO was urged 'make those deals', I have the proof of that. Fact. "No" prevailed and the shock and amazement in the pain world and elsewhere set in. And remains. One cannot say "No!" without repercussions and we are living those now. All facts.
I speculated, with Andrew Whelan, that it would be difficult, if not impossible, to re-open those doors, after they were slammed shut by BIEL. We know that since the CEO change, BIEL has gone back to various parties to try and re-open discussions. Fact. I speculate problems exist in that there may be a general credibility issue relating to BIEL delivering on promises made. I speculate there is toxicity associated with the name and actions of the former CEO, that BIEL is a family controlled company and with nepotism. Only Keith Nalepka, with his credibility, can get deals done at this point, but not without fixing other issues and quickly.
I speculate that the second major issue is the outrageous share structure, the topic of a full-blown SEC investigation, decisions, fines, barments and here we are with a potential share load of 65 Billion shares if and when all convertible notes are redeemed, including interest. Fact.
So how does one quickly fix the problems and effectively manage the turnaround of an ailing company? First, fix the problems, not the blame. Second, plan the turnaround. Identify the problems and negative perceptions. Move quickly, like lightning, to put the company on a better course.
BIEL does drastically need turnaround solutions in a number of areas, most of which remain unaddressed and certainly do not require 180 days:
The 7-Step Management Remediation Plan
Only time with tell if Patricia and Kelly Whelan will do the right things, or not. It is to their direct financial benefit to just bite the imaginary bullet and protect themselves by incorporating vision:
1. SHARE STRUCTURE - Immediately revise the outrageous shareholdings of the Whelan/IBEX/St. Johns on conversion of all Promissory Notes of around 62 billion shares. The Whelans would own around 35 billion of that 62 billion or 60% +-. Reducing their shares by 28 billion, to 7 billion, new total becomes around 34 billion, they would then own 25% +-. Some say it should be reduced to 3.5 billion, whatever it takes to repair the previous damage. Would you rather own 60%, 35 billion shares, of a crippled company worth nothing and going nowhere fast, or 25%, 7 billion shares of a company under restructuring, that could be worth untold hundreds of millions of dollars?;
SYNOPSIS OF THE 7-STEP MANAGEMENT REMEDIATION PLAN DECEMBER 2019
1. SHARE STRUCTURE
2. TRANSPARENCY
3. FAIR OFFERS TO SHAREHOLDERS
4. TOXICITY
5. BOARD of DIRECTORS
6. COMMUNICATION NALEPKA KONERU
7. NEGOTIATE & SIGN DEALS AND DELIVER ON ALL PROMISES!
This brief analysis may help. It illustrates that after disgorging 28 billion of 35 billion shares and reducing the Whelan holdings down to 7 billion, the sp only needs to rise to .0045 for the Whelans to be in exactly the same position they are in now - the toilet! With the increased upside of a company with 34 billion shares out, not 62 billion! Simple.
Whelan Simple Disgorgement of Shares
62,000,000,000 Existing shares 7,000,000,000 New Whelan share #
35,000,000,000 Whelan controlled
$0.00090 Price $0.0045 Price
$31,500,000 Value $31,500,000 Value
28,000,000,000 Disgorgement
It's called owning a smaller piece of a bigger pie! Only fools don't change their minds. For some reason, the Whelans refuse to see the logic, smaller piece, bigger pie! Called fear. . . Lead, Follow, or get out of the way, but do something . . . tic toc . . . . .
Forget the CE Mark!!!
No CE Mark is required to do 3 deals in the U.S. worth $100 million a year in sales!
Only things required are to remove the toxicity of the names that have the large players spooked and the share structure.