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Total bullshit is the claim that "Currently Biel Is Protected From A Takeover"
Currently, the Board of directors and insiders own less than 2% of BIEL. Independent investors own about 98%.
When the Whelan family converters their ill-gotten promissory notes into tens of billions of shares of BIEL, they will effectively takeover the company depriving independent investors of their investment in BIEL.
This is the very definition of a takeover, and IMO a hostile one.
Total bullshit is the claim that "Currently Biel Is Protected From A Takeover"
Currently, the Board of directors and insiders own less than 2% of BIEL. Independent investors own about 98%.
When the Whelan family converters their ill-gotten promissory notes into tens of billions of shares of BIEL, they will effectively takeover the company depriving independent investors of their investment in BIEL.
This is the very definition of a takeover, and IMO a hostile one.
Independent investors, which have invested 10s of millions of dollars into BIEL (in contrast to the nominal investment by the Whelan family), need protection from losing their investment to the Whelans and their ill-gotten convertible notes.
Fix the sharestructure in a way that is fair, just and ethical. That will move the pps out of the toilet.
I agree that "Biel Is Fixing To Explode, And The Price Is Fixing To Explode."
I just question who will be the owner of BIEL when this happens: the investors that poured tens of millions of hard-earned dollars into the company or KW, who shuffled a lot of paper and invested a nominal amount of money into the company?
The truth being that if management drives the company into a poor position and the PPS drops that note holders can renew their note ie a new note is issued at 50% of the market value of the PPS at the date of the new note. No risk to the lender . But a great way for a lender to take over the company. Which it is poised to do.
It's KW's greed factor that has me concerned.
I found her tweets disturbing. Especially the tweets, aimed at the investors that question her actions, that they should sell their shares. Her claim that "no one asked them to invest" which is pure b******* because she sold billions of unregistered shares to investors.
I found herself appointment to president CEO treasurer CFO Executive Board member disturbing.
I find her fear of BIEL having a annual shareholders meeting disturbing. A meeting required by law.
Her testimony before the SEC showed no concern for the true BIEL investors, the ones that put tens of millions of dollars into the company.
Will she have a change of heart? Will she treat investors with respect? Does she really understand that it is these investors and not her that has kept this company afloat for 20 years? If so will she work in their interest, or continue to take self-serving action that is well documented in the SEC filings?
Although I wish it was accurate this statement is false "The larger the SP the lower the dilution to pay off IBEX/St John's. "
The conversion rate, i.e. the number of shares, was established at the time of the issuance of the note.
By what legal right does KW currently control bioelectronics?
I've heard that if a purchase order is placed, based on the availability of shares at certain prices, the pps can be different. For example, a buyer opens a bid at 8, part of the shares bought had an ASK of 7, until the availability of shares at 7 is exhausted, then the remainder of the open order to buy shares at 8 can be bought at 8, which creates the appearance of a five-figure traded.
$0.36 will never happen without a reverse split.
Reaching that PPS without a reverse split would require millions of ActiPatch devices sold every day of the year (i.e. not realistic).
If the report is true that the MMs couldn't deliver the 100 million-plus shares earlier this week, why would they need to buy any shares today?
BioElectronics hasn't completed large enough studies to make the claim
BIEL sales would have reported higher if there was truth in the following statement:
Nice 35,400 share buy to close the day. I get the feeling that someone is slowly accumulating. Of course, I felt that this was a good investment way back into the last century.
I too see "a bright future for BIEL with 5 new Partners and the leadership of Dr. Staelin."
I just don't want longsuffering shareholders that put in real dollars see their investment severely harmed.
So you do see the possibility of KW and PW converting the promissory convertible notes which they hold, into tens of billions of shares, the very notes which the SEC deemed "ill-gotten gains"?
I find it difficult to standby and watch as a family that contributed an undocumented, nominal amount of money, can take 2/3rds ownership of the company away from investors that put tens of millions of dollars into BIEL.
Is it your opinion that KW and PW will convert their notes to tens of billions of shares, or that they will just keep the option open to protect the company from raiders and eventually accept P&I payment when the company is sold?
As does my Garmin
See post quoted below with information provided by BIEL via twitter:
That rumor turned out to be false.
Yes, basic supply demand curve taught in Principles of ECON 101
I hope to see promising sales posted in the 3rd quarterly statements. And a bigger boom in the 4th Qtr.
Years behind schedule but I've not fealt this good about the product line being successfully commercialized since 2017.
I agree, the product really works. I recently finished the Pikes Peak Marathon and value how the ActiPatch helped me recover.
The word needs to get out. Hopefully, between the OEM partners, distributors, and BIEL promoting the brand, the products will become household names.
So you trust the family, the same family that has accumulated over $10 million of ill-gotten gains, composed of funds provided by BIEL investors, which has diluted the value of BIEL stock and harmed investors. You trust her to not take advantage of her position as the main noteholder with conversion options to takeover BIEL and reduce our holdings by 67%? As the saying goes "fool me once, shame on you, fool me twice..........."
I agree with all your statements in the linked post.
My previous response was in regard to the statement "In January 2018 the rights to BIEL's assets were transferred to the EXIM Bank".
The "rights to BIEL's assets" was retained by IBEX, but are now subordinate to EXIM Bank.
True that BIEL is a penny stock, and with a 25 billion AS, 75 billion shares needed to satisfy outstanding convertible notes, and a self-appointed CEO/President/Treasurer/CFO/Board Member that is in a position to own 100% of all company assets, it will likely stay a penny stock.
However, BioElectronics has patented and proven technology in the global multibillion-dollar pain space.
IMO, what is needed to move BIEL above penny status?
1. Profitable Sales
2. Share structure: once the income statement is healthy, the board needs to initiate a reverse split
3. The excessive investor risk needs to be lowered; the liabilities on the balance sheet created through self-dealing need to be unwound
4. Ongoing product development
5. Brand awareness
There is ample evidence that BIEL is a different company than it was under AW. The proof that it is a healthier company is when BIEL posts significant and increasing revenues together with positive cash-flow generated from profits not new loans.
Well written post and good information.
I am an investor that wants an understanding of the full risk and reward. There is a significant opportunity with BIEL and significant risk. I admit to seeing red when I read the information that is contrary to the truth. I also seek fairness. I bristle at the idea that someone can swoop in and take the assets of long-term faithful investors.
If there is a concern about having an understanding of the risks of penny stocks and the realization that most never succeed, yup that’s me. If we’re talking about someone who has followed this for many years, knows the history, knows the successes and failures of this company inside and out, yup that’s me. If we’re talking about someone who chooses not to criticize the company on a public forum, yup that’s me. And by the same token, I’m not going to exaggerate the truth when positive either. See, I’ve also invested my hard earned money KNOWING THE RISKS. So accepting that truth, we can only blame ourselves for taking that risk. Sorry, that’s the reality. Denying it doesn’t change it.
Here’s what I focus on. 1. Not one reverse split EVER. Destroyer of pinkies in 99.9 percent of cases.(Hopefully they can get to a point where it will be beneficial to do one, just not now)2. Fda cleared products for a tiny company with limited resources. INCREDIBLE! 3. Announcement of oem partners. 4. Products selling on amazon and Walmart sites. 5. The POTENTIAL sales when the products actually get exposure through advertising. Those are just a few things I focus on because I want the company to succeed. If they don’t succeed and close the doors, I won’t like it, but I’ll move on, BECAUSE ITS MY UNDERSTOOD RISK.
I’d rather focus on clear cut possibilities. That’s why Im here.
50% wrong!!!
IBEX (Kelly Whelan) still holds rights to 100% of BIEL assets. KW's right to 100% BIEL assets is subordinate EXIM Bank. She still has the ability to take 100% of BIEL's assets if BIEL cannot repay her ill-gotten notes. Kelly Whelan could payoff EXIM Bank and she would regain her 1st lien position.
KW has positioned herself in the catbird seat to either take over ownership of BIEL or to take 100% of BIEL's assets. Assets bought and paid for by BIEL investors. Again, according to her own testimony before the SEC KW has only contributed a "nominal, one-time investment", one that couldn't be documented (she was a licensed CPA at the time, go figure), and "never put any additional capital at risk. What's at risk? The BIEL holdings of all non-Whelan investors.
It shouldn't work that way, but that was the scheme that positions the Whelans to own a huge majority of BIEL and only contributing a nominal amount of their own cash.
Bullshit
If the Board of Directors operated the company in legal compliance, and shareholders's right to vote on a slate of directors, IMO, Dr. Staelin would have been elected to the board.
The ends don't justify the means. I hope that Dr. Staelin brings BIEL into operating compliance.
The power is in the ill-gotten notes which are convertible to tens of billions of shares.
....and by what right did KW take this action: "Kelly Whelan has removed and replaced her Mom from COB position"
The Corporate By-laws require that shareholders vote at the annual meeting to appoint company directors. Directors vote to appoint the Chairman of the board.
This company continues to operate out of compliance.
That is a total deflection to the issue of insider KW employing self-dealing tactics to position herself to become majority shareholder after having only invested a nominal amount of money and collecting a lot of stock grants from daddy along with his signature.
Shareholders that own 98% of the shares have legal rights to cast their votes for company Directors. But, KW controls BIEL just5 like AW controlled BIEL, by ignoring the legally binding corporate by-laws.
The SEC barred KW from anything involving penny stocks for a period of one year. So I am not surprised that there was no activity by KW during this timeframe.
KW holds $6 million of what the SEC declared was "ill-gotten gains" In what alternate universe can someone lend a nominal amount of cash to a money-losing company and after 15-years of losses, turn that nominal investment into a $6 million asset? BIEL shareholders have invested $37 million in BIEL and now only have $16.7 million. During the same timeframe, KW invested a nominal amount of money and now claims an asset valued at $6 million. The SEC concluded that KW aggregated these notes through self-dealing and lack of concern for shareholders
Please explain how KW is CEO if she does not control BIEL, I will wait
IBEX/KW doesn't need to have the shares in hand, the $6 million in Convertible Loans that KW holds give her controlling interest.
The last time KW Converted any shares was March 2019. The same date she made $100k in new loans to BIEL.
Holding $6 million in BIEL Penny Stock Debt for years, Rolling it Over when it Matures rather than cashing in, should be a clue, BIEL's survival is KW's priority.
https://backend.otcmarkets.com/otcapi/company/financial-report/255404/content
Any investor that hopes to ride this train to the end of the line will be disappointed because IMO their investment will be derailed somewhere along the line. It might be 6-months, 1-year, or longer, but the final derailment of BIEL investor holdings is on the schedule.
BIEL's market cap is $16.8 million, the shareholder deficit is $37.8 million, and the Whelan family claims BIEL shareholders owe them over $10 million. Clearly, BIEL shareholders have already been significantly harmed by the Whelan family and there is more harm to come, IMO.
What right does IBEX claim to be the major shareholder? KW, sole member of IBEX, worked with her daddy in a scheme to defraud investors through the sale of unregistered shares of BIEL. There was, and is, no need for IBEX "loans". BIEL should have registered shares and sold them directly to investors. The only reason to involve IBEX was to create a situation where the Whelan family could own a majority share of BIEL. They didn't put in the capital to keep the company going, they merely sold unregistered shares of stock, backdated some notes, then claim that they are owed millions of dollars. CRAZY STORY BUT TRUE.
My prediction: BIEL will be hugely successful, and KW & PW will then convert their notes to shares and sell BIEL to an investor leaving us with 1/3 of what we thought we'd receive from our long-suffering investment. If you're content with having 2/3rds of your investment being taken away to pay off a note-to-share scam, well.........
TOTALLY WRONG INFORMATION IN LINKED POST:
IBEX doesn't control BIEL as it does not own any shares of BIEL. Look at the disclosures filed.
There are no 28 billion shares to cancel as they've not been issued. It would take BIEL's BOD to raise the AS by 28 B shares and KW to convert her notes to shares. Until then, KW owns 37,333,033 shares of BIEL.
KW doesn't need to "dump her shares" to reduce the value of our holdings. She has a history of harming shareholders by her financial strategies employed for personal gain. For example, she can sell her notes to other investors, like she's done numerous times. Those lenders then convert the note to unrestricted shares and then dump those shares on the OTC.
To a degree, the risk of what KW can do to the value of our investment in BIEL priced into the pps, and can explain why we can't get traction above $0.0007.
srinsocal
Wednesday, 09/02/20 01:18:29 PM
Re: 4toSchool post# 234462
Post # 234465 of 234475
Incorrect Theory
IBEX/KW currently have over $6 million in Convertible Loans with BIEL. If Converted at today's SP of .0006/.0007 the shares received would make IBEX/KW majority owner in BIEL.
IBEX/KW already control BIEL. How is it thought KW became CEO?
A takeover attempt would occur if IBEX/KW cancelled 28 billion shares or changed the Convertible Loans to Interest Only Loans.
For the last several years IBEX/KW have been renewing Loans as they Matured rather than converting them to shares. This was in an effort to control dilution and reduce AS use as it approached its limit.
As discussed before, KW knows that dumping billions of shares on BIEL when it is trading in the Trips would damage the company, won't happen.
BIEL has a strategy for solvency. It is called OEM/Licensing Partners. 5 signed Deals were revealed on 8/10 by our COB.
On paper, it looks like KW has loaned millions to BIEL. However, that is not true. The money was raised by selling newly printed shares of BIEL to BIEL investors, which lowered the value of existing shares. IBEX (a.k.a. KW) served nearly as a conduit between BIEL and BIEL investors, facilitating the illegal selling of unregistered shares of BIEL. Now, 15-years later she claims that BIEL shareholders owe her $6+ million, yet out of her own money she loaned BIEL a one-time nominal amount of funds.
We all want BIEL to be successful. My question is why would the person & family that used illegal schemes that defrauded investors be the one that can take a huge majority stake in the company when it proves to be successful?
I disagree as I see a lot of value in the products and their respective patents held by BIEL. BIEL is over 98% owned by non-Whelans.
The takeover of BIEL will occur when the Whelan family exercises their conversion options on their ill-gotten convertible notes, created through self-dealing, and assumes a majority share of BIEL; From what they own today, being less than 2% ownership to well over 50% ownership.
Unless something changes, when that conversion happens is when non-Whelan family investors in BIEL will take a 67% loss of value on their holdings.