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I totally agree. BIEL is far from holding any M&A attraction.
"I also don't think Kelly would sell the company. She must like the prestige of being a CEO and lord knows she could never be a CEO anywhere else."
Your paragraph holds a very interesting piece in the puzzle of BIEL, that existed for many years. I hope the mysteries of DNA have not made it part of where we are today and impeded change, as before.
Please remember, I have consistently cut the current CEO slack, since 2019, because I remained confident she was a victim. Now, after 3 1/2 years, with the SP still in the toilet, maybe it's appropriate to ask more? Maybe it's most appropriate to chat 1on1? Don't know, I'm not running the show and I'm just one little voice.....
I chatted many times with the former CEO, very successfully, but he could not break the bonds that held him, like a cruel vice! I could write for hours, but dignity prevents me from doing so. Besides, to what end, as I've said, despite the foibles, I liked the man.... but I'll also opine, there's a book in BIEL.
Your 'Liking' the prestige of being a CEO', is dangerous territory, to be considered and fraught with red flags. The phrase screams of Id, ego, and super-ego. My view would be that one should have psychological well-being- balance, a dynamic leadership and personality skillset, coupled with business acumen and a track record of success, before 'liking the prestige of being a CEO. In other words, 'fit the title', or at least have the tools to grow into the chair, while creating success.....
Then, we have perceptions in the marketplace. No question, the former CEO burned a number of commerial bridges, leaving a number of opportunities in flames. No one could intervene, altho many great people tried, many times. The events hurt the cause.... people turned away.
To sum up, I'm confident the current CEO could hold little or no sway before October 2019. Those days are gone, over, finished. Now, it's time to make money, honey! The former CEO could not get out of his own way, no way, no how. The proof was the share price and the trail of burned bridges, lost deals. I saw it, I lived it and have the documents to prove it. Ego got in the way!
We all need to shed the past, understand the potential of ActiPatch, put our big person pants on and monetize this opportunity. No room for ego. Please, not again!!! Stubborn was and is really stupid. Sales, profits and share price are the only things that matter! If change may help, then for %#**/'s sake change, cause what we got ain't workin. There's a ton to lose!
I raised my voice, somewhat, long and hard, at the former CEO, after he argued (constantly) that he was not going to change his disasterous approach to negotiating deals, by slowly saying to him, 'the only thing that is constant is change'.
That was around 2010 - 11. Over and over, he found it impossible to change, even admitted several times it was wrong. Smart guy, but some people just can't get it right and it can be a curse! There was only one way! We're now in 2023, time for change, lead, follow, or get the #@^* out of the way, cause .0004 ain't workin for me.
13 interesting questions, but my sense is there may be other more simple ways to create success and raise BIEL out of the toilet.
The BS 8% interest factor was engineered by the former CEO to be paid in the form of additional discounted shares, as the remedy for non-payment of interest.
Always remember, these opportunities were always presented as very short-term, just to get the company over the cash crunch of the next few months, until the current discussions of a magical deal were concluded and the BIEL stock bounded to a couple of dollars.
How many years ago? And the SP is what? Everyone was conned, hustled, whatever. The opportunity remains, how to monetize ActiPatch.
I assume you didn't get the discounted shares/loan opportunity, fly with me to the moon, call from the former CEO? How many years ago? Be thankful you didn't. It was good money after bad. And it doesn't matter any more.
Tks yankee and, yes, let's see what unfolds.
I don't believe M&A is the way forward. It would not satisfy existing stockholders and no BoD in its right mind would pay the full opportunity premium value for ActiPatch, which is still substantial.
I believe housekeeping, caused by unsatisfactory results and in the form of clearing up the surname red flag, created by the former CEO, having the family simply cancel a large portion of their inappropriately acquired shares and making BIEL nimble and better managed at the CEO spot will all help to create immense wealth......
"This deal was NEVER offered to stockholders, show me a PR or stockholder solicitation to such a note/loan to stock deal offer. I am all eyes. This was a self serving deal for family and select few. End of story!"
The interest-free loan deal offering discounted shares in lieu of interest was offered to stockholders. The stockholder solicitations were in the form of phone calls to existing shareholder by the former CEO, as determined only by the former CEO.
Important to accurately note that stockholders had no influence on who received calls. Many declined, some accepted the offer, one by one by one.
That led to lawyer prepared interest-free loan documents executed, funds moved and BIEL was kept alive. Never heard of anyone confronting the former CEO, complaining about being excluded and demanding inclusion in the worst investment deal ever! That's pure fiction, didn't happen! Hilarious!
The suspect, murky part is that the former CEO completed the same transactions numerous times, for himself, supposedly investing his own funds, in return for discounted shares, for his own benefit......
But he could not, would not, psssst, could not prove it, even when questioned under oath by the SEC. No company records, no bank records, again, stated under oath to the SEC. Curious? You bet, more than curious!
Can anything be done about that? Not a chance! Was it wrong? You bet it was, because no substantiation of those funds provided by the former CEO hitting BIEL's bank, in return for those shares was ever provided!!!! Was everyone outraged about it? Of course.
But that does not negate the honest loan investments made by others, when solicited, by the former CEO, in return for discounted shares, in lieu of interest. I've invested funds in private start-ups, IPO's and floundering small companies, in return for discounted stock, and involving dilution of earlier investors. Happens many times, every day. For the last few hundred years.
Nope, not how it happened. The details of the opportunity were in the financial statements for all to see.
Those recorded publicly how the former CEO reached out to about 100 totally unrelated people, asking if they had any interest in investing substantial real dollar injections, in order to keep BIEL alive. He was always in deep financial trouble. Something in my memory tells me the minimum was $50,000.That is how it happened, that is the truth, and its no longer important to anyone because everyone is under water.
I guess if some are still upset because he didn't call them, I don't see how that's the fault of those he did. Funny part is it was total insanity to invest in BIEL, in any way, at any time, except for ActiPatch. The amazing device and a few hundred million chronic pain sufferers were the only reasons I invested. Other than those, there was no real plans and holes in the management skillset steering the ship......
"simpsonly. well said!
and don't forget, kelly was raised by andy. unlikely she'd be anything
but combative, stubborn, unwilling to consider anything beyond her compulsions. in other
words, she is her father's daughter, which undermines the potential of biel the company,
is devastating for shareholders and is a sky blocking red flag for investors.
she's rather die than change..."
Thank you for the compliment chsmoke. Couple of points, in my opinion....
I have cut the current CEO slack, at every turn of this dismal saga. She is 100% a victim, absolutely no question in my mind. DNA and parental influences can be a curse and very much beyond our control!
You use the words, 'combative, stubborn, unwilling to consider anything'. Allow me to add, smart, and about 15 other descriptors, positive and negative, that caused much strife for many; shareholders, family members, regulators, lawyers, suppliers, employees, you name 'em.
BUT, the obnoxious DNA also meant the guy never, ever quit, while being pounded by inexperience at the regulatory processes, little money and the overwhelming oppression of Big Pharma. It's easier, but much more expensive and harmful to take drugs for pain! He didn't have ALL the tools, the DNA and the personality to take BIEL into the billions. And his DNA restricted him from saying, 'I can't do all this on my own, I need help, I need to trust and let a well motivated and talented team make it happen'.
Confusing it even more? He was a good guy! Drove everyone crazy, but I knew him well. Met him, ate with him, talked to him on the phone a couple of hundred times, laughed with him. I grew to know he was governed by Founder's Syndrome, could not get out of his own way, horrible negotiator and terrible deal maker. And he loved to fight with people....blew me out of my chair, when he actually said it. Many times, and he would laugh!
So, what was the attractor? Actipatch!
Time to fix this puppy and create wealth. Various, well-meaning, knowledgeable people have chatted with the decision maker. Perhaps the passage of time since 2019 will allow common sense to influence the outcome of BIEL. I don't know, I'm out of the loop. I hope so. Some have said there's a book in it, maybe they're right.
Ha! All well articulated. Although total strangers, I would love to sit at the negotiation table (same side) with you on this one...... Like your style....
IMO share price upside may come from a combination of:
1. Newly invigorated dynamic management where needed;
2. Immediate removal of the cause of red flags;
3. Relinquishing of entitlement to a large portion - 10's of millions of weird-gotten discounted shares in favor of the former CEO, in the opinion of the SEC. Under oath, before the SEC, it was declared that there were no bank or company records of actual real loans of real dollars behind those shares. How does that happen? Ever? No record, weird shares should lead to practical negotiation to reduce many of those questionable shares, in order to move forward.
4. It must be truthfully noted, once again, that other arms-length investors did lend the company actual real dollars real checks, and received discounted bonus shares, all as described in detail in financial statements over many years. Anyone could have extended such loans to the company;
5. It may be that the only way to avoid cataclysmic results, a pile of troubles, is for a fair deal to reduce a goodly portion of the weird shares is reached, lets call the retained shares compensation for service or something, and move on;
6. Doing nothing maintains the stand-off and keeps the share price in the toilet;
7. Doing something creates a successful path for all shareholders.
All this is from memory. I posted the solution proposal dozens of times around 2019, but can't be bothered to go back in time and verify details. So E&OE. My opinion is the recently proposed S.586, the NoPain Act, makes change at BIEL opportunistic, perhaps the sooner the better.
IMO share price upside may come from a combination of:
1. Newly invigorated dynamic management at the CEO position;
2. Immediate removal of the red flag stain of the surname of the founding CEO;
3. Relinquishing of entitlement to 10's of millions of ill-gotten discounted shares in favor of the former CEO's family. Under oath, before the SEC, it was declared by the former CEO that there were no bank or company records of actual real loans of real dollars behind those shares. No record, no shares should lead to practical negotiation to reduce those fraudulent shares, in order to move forward. It must be noted that other arms-length investors did lend the company actual real dollars and received discounted bonus shares, all as described in detail in financial statements over many years. Anyone could have extended such loans to the company. The Catch-22 is that the only way to avoid cataclysmic results is for the former CEO's family to make a fair deal to reduce their shares, lets call them compensation
S.586 the proposed NoPain Act, although temporary, as proposed in its current form, is what gave me a small glimmer of hope and interest in posting here a few times.
14 years of management stinking up the place with chronic poor judgment led me to stop wasting my valuable time.
Why fight the definition of insanity, when misuse of control, lack of vision and common sense are running the show? 14 years and triple zeroes, should be ample proof of the need of a sea change.....
My sense has been for years that there is neither altruism or magnanimity at play, rather varying degrees of inexperience, 'Founder's Syndrome, fear, control issues, lack of plan or vision. As I said earlier, there were numerous skillset components missing for years.
The current disaster could simply be a continuation of extraordinarily negative name association. The former CEO alienated everyone he dealt with for many years, virtually without exception.
Many times, I have cut the current CEO slack, opining that she too was a victim, of sorts, for many years. She may deny it out of love of a parent, okay, I get that, but my momma didn't raise no fool.
No one, and I mean no one, could budge the former CEO on anything. He actually said to me many times, "I love a good fight", when I argued vehemently that diplomacy would create success. Couldn't shift him, nor could many others. Many were fearful, so they went silent or simply left.
Stubborn and obstreperous traits trump intelligence and wisdom, every time, unless the latter has control, in which case one terminates the former. It was not the case at BIEL for years. Cranky and 'I'm gonna do it my way' won! Really???
Current CEO needs to consider reversing the trend of the former CEO being unable to get out of his own way and ending the BIEL reputation of insults and financial misery.... People never, ever forget the name of those who insulted them... BIEL needs a quick wash and rinse cycle, is my bet. Why not try it? I prefer wealthy, who likes poor? Who likes failing?
So, not her fault. Except, if the theories of some, are correct. Why, why, didn't she step out of the management limelight in 2019 and let others make her wealthy?? Never too late.
The equity value of the founding family's stake is worth <zero. Only a lack of vision and common sense has impeded success for 14 years, that I personally know of. Over 3 years of understandable grieving time is surely over. Time to get Business and get Wealthy. Anything less is self-destructive; who does this to themselves?????
Damn, I love intelligent people. Thank you for sharing rdw. Hope you're healthy again.
A number of terrific opportunities were 'passed on', but that's history. The protected IP is still extraordinary - drug-free pain relief that stimulates healing, while reducing edema? Amazing disruptive technology, in its truest sense - science!
Being an effective CEO of a publicly traded corporation requires a broad skillset. Opportunistic, visionary and nimble leadership would be among my top 10.... all 10 being very important.
The BIEL management team has the collective skillset, but something isn't working effectively and that's what I'm not prepared to share or write about here. The plan presented to the former CEO in 2019 was brilliant. I reviewed it again yesterday and can opine that it would definitely have been successful, but Founder's Syndrome, rather than wisdom prevailed.
With great respect, there are prudent limits to discussion topics shared amongst strangers, and the entire world, on social media sites, wouldn't you agree? One could pose a simple question though. Is it time to change a couple of things and create wealth yet?
I don't think I've been fleeced, since the original Founder and regulatory developer passed away in October, 2019. However, only results count, nothing else. Sales and profits, nothing else.
We are all responsible for our investment decisions. Every responsible CEO is accountable for their results, while at the helm. With the results of the past 2 quarters, every responsible CEO should be having quiet thoughts about their next steps. If that same CEO were also a stockholder, they would be seriously challenged, if not thinking so. If not, unforgiveable.
I still want to fix the problem, not the blame. I perhaps know more than most about the past 15 years, but who cares, that's history. We can't bank history, we can only bank results!
Only update Im interested in is that an introspective analysis of 15 years of miserable financial results has led to the obvious conclusion that the stranglehold on a company with great potential must be released.
I'm left struggling with why any family would or could be accepting of the terrible financial results of the last 2 quarters, after enduring a decade self-imposed management turmoil.
Private enterprise? Do what you want, but publicly traded companies, meet or exceed stockholder expectations. It's called, 'lead, follow or get out of the way'.
'Founder's Syndrome' kills potentially great companies, and their Founders too; that is a reality of BIEL. I'm exhausted, after 15 years of losses. Any self- incriminating responses like, 'No one forced you to buy' or, 'You're free to sell your stock', as we heard from the former CEO, were pure and defiant Founder's Syndrome.
Hearing such rhetoric repulsed me for years, while millions in profits could have been made. A viable plan was offered and nonsensically rejected, not long before the current CEO was sadly forced to take over, but there is no one obstructing the use of common sense now.
There should be an urgent desire to make millions now. Not soon, right now! Who could possibly be satisfied with no income and years of double and trip zero SP? I would love to hear any explanation of why anyone could be accepting of the recent results, compounding the former decade, and not want to make a few million, when the potential to do so still exists.
The positivity is found in what is not contained in the report. Solution seekers abound.....
Missed the more likely 3 scenarios by a country mile.
How to effectively manage BIEL from a basement toilet dwelling Shole into a successful cash cow is so easy it's scary simple. Many here, for years, know this to be true and precisely how to do it.
A major corporate change could involve key management changes, a new partnership, a buyout, or all 3, and without a capital investment of any kind. Operating capital, yes, acquisition capital, no, zero......
If I'm the Whelan family, I take any offer of any kind that will give BIEL any chance to rise out of its 15 year basement toilet, do some serious deals and create wealth.
The time for criticism, complaining, judging and attacking are over. I yelled, fought and begged for years, many years, for the former CEO to recognize and deal with his 'Founder's Syndrome' and need to fight with people; couldn't and wouldn't and the ongoing battling and financial disaster are what killed him.
What makes successes and creates wealth in businesss are positive results, nothing else. Making good and fair deals, generating sales and managing profits, not how long management can languish in the toilet at prices in the dottriplezero range.
That's called idiotic. I watched idiotic for >10 years, it was a DNA issue - my way or not at all. Is anyone else tired of being trapped in the BIEL share price toilet yet? I'm praying this Whelan generation recognizes the difference between self-generated losses and financial misery and realizing the obvious success potential.
Wow, great due diligence find. You imply from your deep research that use of a BIEL product sometimes increases pain. Never heard of such a thing.
It would be helpful if you would just post the link to that study. Thanks in advance.
Never too late for that FDP. It's what normally happens when sales and profits are below expectations. Assess who benefits the most, as a result of a management change. So obvious for years.
Perhaps wise to revise the hope descriptor from 'Soon' to now? Only a moron wouldn't see that something is not working, for 10 years. Now works....
Now you're talking
There are a few other, better, ways....
True - the global sales figure was $48,000 and now South Africa is being touted as the glorious sales mecca to take BIEL to 10's of millions in sales? Chances of that are smack in the middle between zero and squat.
Gonna take a disruptive change in at least one of 4 areas several of us repeatedly articluated hundreds of times over the years. It can happen, the product, mechanism, FDA endorsements and IP are all still there. Even 2 of the four changes need will wake this up.
When? Anytime will help us all....
I can think of a few positive reasons for a delay of this length, but under such circumstances woul normally expect communication with stakeholders as a result.
Thank you. I posted positively on BIEL's potential, for many years, over 6,000 posts. Pretty much stopped because there was little else to say.
I continued wondering why the major step needed to eradicate the major impediment that held back the obvious potential for growth in sales, profitability and share price since 2008 never happened. There was only one reason and I shared that.
The need for a safe, economical, global, drug-free treatment of pain for 100's of millions remains, therefor the massive potential. I still have a strong lingering sense of success. When?Hopefully Soon..... waiting 15 years has been painful......
Disruptive Technology screaming for prudent management to deliver drug-free pain relief to hundreds od millions. Nothing has changed in 15 years, since I first bought stock. It's time. Soon.
No, not at all..... it was a response to 310391......
$48,000 per hour?
After 15 years of average misery, based on your post alone, who in their right mind would not love the Synergy opportunity?
What gets me is bottom-feeding Brokers trading stock within the .0004 - .0006 spread thousands of times for years, creating more ROI % than the Street ever dreamed of..... Until a combination of sales, marketing, Broker promotion and management cliks in, here we are and remain.
Soon....
"The compression wrap is powered by ActiPatch® (pulsed shortwave therapy) and produces 1,000 sensation-free electromagnetic pulses per minute that reach deep into soft tissue to help reduce nerve hypersensitivity in the painful area."
DonJoy - someone needs to understand the electrical pulses generated number 1,000 per second! Soon!
Couldn't agree more, should be $48,000 every half hour, 24/7..... about $70M a month. The power of Big Pharma? Why would any responsible government want to endorse or promote a drug-free, side-effect free, healing analgesic device that is cheaper than the Rx drug Cartel and 70%+ efficacious?
Correction - It didn't 'have to come' from anywhere. Suggest taking the time to read the sworn testimony of SEC affidavits AND the later hearings, that led to the Judge's decisions, which are also available.....
To a great degree, Kelly Whelan inherited a corporate mess, except for the absolute brilliance of ActiPatch.
The truth never changes with the telling, only twisted, changed and embellished upon by storytelling.
No I don't agree and it would be absurd for me to do so.
Any investors still around, who 'received shares through the same conversion (bonus attraction) method' did so because Whelan offered them a share price bonus deal for their REAL CASH INJECTION of new capital into the BIEL project.
Real cash for an attractive share subscription option, with all the paper trail to support the transactions.
Vastly different from Whelan sworn testimony - golly, we looked, but we just can't find any dang paperwork to support that we loaned the company any REAL CASH........ no bank statements, cxld chks, nothing in BIEL bank statements???? Huh?
You would agree, there is a difference?
All true. The SEC clipped Whelan's wings a few years ago. Shareholders have been for years and remain trapped, at the mercy of what he left and Brokers on the Pink Sheets who trade BIEL in the basement toilet up/down, up/down, up/down in the .0005 region making incredible returns, when compounding is factored in.
The toilet is too small for the SEC to care about or spend resources on, so why would anyone but those trapped be happy to see BIEL thrive?
Also, nothing will happen unless Whelan heirs cancel their phoney, unsubstantiated notes and options, which would take # of shares to the moon. When the SEC demanded documents proving their original loans behind the notes, they testified none existed. No papers, no bank records, no money trail......
Yes, well said, it does seem very clear and very positive. And you're correct the confusion and rancor were negative, Nothing wrong with a little OCD, even tho it is a technically recognized disorder. Thanks for clearing it up, much appreciated. 2-3 cents, soon . . . .
Edited from January 19 2021
No question share structure still must be revised by having Whelan family entities, IBEX and St. Johns abandon most of their fictitious Convertible Note loan debt, originated through the chicanery of former management. It would more fairly prevent BIEL from bloating to >65 BILLION shares. Have them retain 5 to 7 Billion shares; they will still be fabulously wealthy. If they fixed the share structure today, BIEL would possibly be a few cents tomorrow! The potential bloat is restrictive!
However, much credit, where it is more than due, to all BIEL team members and the new senior management team of Richard Staelin, Kelly Whelan and Keith Nalepka. And the justice that the Whelan family will forego another year of interest on the falsely generated Convertible Notes in question for "2021 at least and now 2022, heading to 2023".
BIEL is finally on the move, as it should have been and could have been >10 years ago. That fiasco was then, this is now and we are still in the SP toilet. Fix the share structure and congrats to Team BIEL, amazing and well-earned results with the 25 country signed deal. Now complete the orders and make some cheddar! It's only about making cheddar, but SP is projected on the speculation and discounting of upcoming profits!!!