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Now that BIEL is back to Pink Current Information, and the Yield sign has been taken down, can we all agree that if it happens again or something as severe as this happens again, that our rookie CEO must be replaced? Can we at least agree on that single point? Whether it be late financial filings, regulatory screwups, important clearances, you know, all the kind of stuff the Whelans have overlooked during the past decade.
Let’s agree if it happens again the rookie CEO gets the axe and shareholders vote for a new board and that board hires the CEO. A real CEO.
If an investor is okay with losing 2/3rds of their investment gains in BIEL stock, what can I say?
I for one would prefer to see shareholders treated more fairly by BIEL BOD and the self-appointed management than what so many are willing to accept.
"I understand your worry, anxiety, concerns but can you be a just little more positive today please?
After all the momentum is happening for Biel and KT and just walked in my local CVS store and the KT recovery wave is finally stocked! Sales, profit will happen, challenges and obstacles will always try to frustrate us. Be a winner! It pays to be a winner! "
I would be ecstatic if the ill-gotten notes were written off and your investment in BIEL, along with all others, including my own, would reach its full potential, and not be cut down by 67%.
THANK YOU for sharing the good news about your local CVS. Andy failed, and CVS is now stocking our product!!!!
"Let go lol... New Management is kicking ass... 3 billion dollar companies selling our products. Based on last shipments looks like we are profitable going forward. Jump on board... You are speculating based on the past but Kelly decided to forgo debt for last 2 years including all of 2021. Buy cheapies hold retire. "
"NEW MANAGEMENT IS KICKING ASS"....it will be shareholders ass that gets kicked when the notes held by Kelly and her mom are converted and you see about 67% of the value of your holdings evaporate in one second.
"YOU ARE SPECULATING ON THE PAST"How best to forecast the future than to look at the past. History does repeat itself. A leopard cannot change its spots.
"KELLY DECIDED TO FORGO DEBT FOR THE LAST 2 YEARS" She did not forgo debt. She didn't collect interest on her ill-gotten notes. Not collecting a few hundred grand in interest has allowed her to pacify some investors, helping her and her mom keep the real wealth 2/3rds of your shares, 2/3rds of BIEL.
The SEC clearly disagreed with KW's testimony when they stated that Kelly "ill-gotten gains" Whelan made a nominal, one-time, and undocumented investment in IBEX and never put additional capital at risk".
THE DIVISION OF ENFORCEMENT’S POST-HEARING BRIEF, Pages 18-19
found at this link.
If I were a major retailer, I'd be concerned if I were relying on a company that couldn't complete the basic task of keeping their filings current. Could I trust them to make deliveries timely? Are they paying their vendors timely (NOTE: see balance sheet - accounts payable)? Is my business at risk because they don't have their chit together?
If BIEL doesn't have its house in order, can a company have full confidence in BIEL's ability to deliver? If "no", are we losing sales?
KT Health could have been a client years ago, but AW kicked them out of his office. Andy also told Bayer (Dr. Scholl’s) "no deal", he pulled the ActiPatch from OTC in the UK even as it was getting traction.
"but the positives are the focus now, as they will lead investors where they hoped to go for all these years. How many shares was that? 41 billion? Lmfao. "
As BIEL becomes more valuable, 2/3rds of the positive is working in the favor of the Whelan family.
Why are 41 billion shares funny?
The Whelan family came close to bankrupting BIEL through some of the following well-known reasons?
EVIDENCE THAT ANDY NEARLY BANKRUPTED BIEL:
1. Andy had an FDA cleared device all the way back to 2003, two more added in 2017, another in 2019, yet we’ve had declining sales figures year-over-year for at least the past 4-years, and are now just turning around.
2. Andy announced deals with CVS, B.Braun, Boots, KT Tape, Dr. Scholl's, Protex, and then killed them, or never closed them.
3. Andy allowed the CE Mark to expired costing years of lost sales.
4. Andy sold ActiPatch products before their FDA approval, until the FDA shut him down. Remember in 2011 when ActiPatch was featured on the Dr. Oz Show and sales went through the roof? Well, at least they did until the cease and desist letter arrived at BIEL HQ.
5. Andy fell for the Joe Noel & Company scam
6. While Andy was CEO, as far back as IHUB reports, BIEL’s PPS peaked at $1.05 on April 13, 2004. Under the Whelan Family’s management, shares of BIEL have lost 99.7% of its value through 4-28-2021.
7. Andy allowed the Whelan family to take advantage of BIEL shareholders.
8. EXAMPLE #1. Andy gave Kelly "ill-gotten gains" Whelan the Canadian territory. She produced nearly zero revenue for Bioelectronics, yet she is now in charge of the entire company.
9. EXAMPLE #2. Andy gave HealFast Therapy for Pets to the Whelan family. That product line has produced close to nothing for BIEL.
10. EXAMPLE #3. Either KW screwed her dad and BIEL over, worked in collusion with him to have all BIEL assets put up for collateral to her IBEX, LLC, or Andy violated his fiduciary responsibility to BIEL in allowing it to happen. There was no need for Andy to collateralize all BIEL assets to his daughter who served as merely a money conduit, and a self-named “friendly lender”.
11. SEC judged that the Whelan’s were guilty of insider dealings and that their family pocketed millions of dollars in what the SEC labeled ill-gotten gains. Read SEC documents here . What success could BIEL have achieved if the $4,643,462.70 of SEC deemed "ill-gotten gains" had been used for sales and marketing of BIEL products, and not moved to the Whelan family?
12. Andy refused to allow others to speak into the management of BIEL. He often operated BIEL with fewer Directors as are required in the Bylaws of BioElectronics Corporation.
13. Andy violated the corporate bylaws by refusing to facilitate BIEL shareholders electing the board of directors members as is prescribed in the corporate by-laws.
14. Andy had no succession plan.
Patricia and Kelly appointed themselves as Chairman of the Board and CEO, respectively, but have not provided any evidence that they controlled more than 50% of the OS at the time of their takeover, and under their leadership, and subsequently, that of Dr. Staelin and Keith Nalepka, they've continued Andy's belligerence of blocking shareholders right to vote on the board of directors.
15. Andy wasn’t a good mentor to our current self-appointed CEO as she has shown similar disgust towards BIEL shareholders. Evidence, BIEL needs more investors, not less. Yet when asked "how will stockholders be treated from this day forward?" Kelly’s answer is consistent and clear
"Mistakes were made. ALL IN THE PAST."
WRONG: The biggest mistake is for a BIEL investor to overlook the fact that there are 41+ billion unissued shares that are needed to satisfy the convertible notes, most of which are held by the Whelan family. Yeah, the same family that invested a "nominal" amount of capital, lived off the company for two decades, and through bad decision making, nearly bankrupted the company on numerous occasions, only to be bailed out by the dilution of the value of shareholder's holdings.
I’m sure KT Wellness and DonJoy are very proud of our CEO for being late AGAIN and for the yield sign. It shows their management team and BOD how great a decision it was to do business with BIEL.
"what does the yield sign exactly mean for us investors?"
It simply means we have an incompetent CEO and BOD!.
It should have not happened, especially during this time of our EXPONENTIAL GROWTH!
What one should really be concerned about is the 40,000,000,000+ shares required to satisfy the convertible notes, even if all the the were all legitimate, but they're not..
"I don’t care about the 25 TRILLION SHARES THAT ARE OUT THERE. "
Do you care about the 40 billion shares that will be used to take 67% of our ownership of BIEL and transfer it to the Whelan family and other insiders?
"Whenever someone says they have done their Due Diligence, then what does that mean.
What that means is that you’re not going to worry about the companies failures so much because you know the company will work this out BECAUSE OF THE VALUE OF THE PRODUCT."
Due diligence uncovered the fact that the success of the company will be enjoyed, not by non-insider investors who funded this company, but by the Whelan family that created ill-gotten notes convertible to 40 billion shares, yes "B" as in billion.
When the company is successful, we'll see the Whelan's exit the story holding about 67% of BIEL's value, while trusting shareholders are left with 33% of what they'll think they have.
Kelly tweeted as much when telling the world
"the Whelans done somebody wrong doesn’t change a thing."
It is more about what the Whelans are poised to do that will further harm shareholders. That is the issuance of 40,000,000,000 new shares to satisfy their ill-gotten notes that will change a thing, or two.
They don't deserve to own 2/3rds of the company for having almost bankrupt this company numerous times. BIEL has been bailed out by non-insider investors numerous times.
"... the success of the company, which wil in turn make investors happy have no need to disparage because it only hurts, and doesn’t help. "
Again, investors may be shocked to wake up one day and find the value of their holdings is reduced by approximately 67% due to the conversion of the ill-gotten notes held by the Whelan family.
So, the company can be successful, while the non-insider investors will lose as they will see the value of their investments transferred to the Whelan family and other insiders. IMO.
Did change a thing:
I'm convinced that people messaging KW via this forum can take some credit that KW and her mom elected to not collect interest on their ill-gotten notes. The interest charges saved are in excess of $1 million. I'm not blind to the fact that for optic's sake forgiving" some interest, which should never have been charged in the first place, is advantageous to the Whelan Family. If they can placate investors with interest forbearance and keep their convertible notes, their holdings are worth 42.75 million dollars (67% of BIEL's market cap). I think it is right and fair to shareholders that they extinguish their ill-gotten notes.
As part owner of BIEL, I will stop when the threat of 40 billion new shares stops; when BIEL BOD respects shareholders by honoring the Articles of Incorporation and the Corporate Bylaws; and when BIEL has a solid management team in place, one that won't make rookie mistakes.
Why is there a "yield sign" on our BIEL stock ticker?
It's reminiscent of Andy Whelan's poor management! I thought we were supposed to be over those stupid mistakes with our once-upon-time CPA and self-appointed rookie President, CEO, CFO, Treasurer, and Executive Board Member. Maybe a rookie CEO wasn't such a good idea for Bioelectronics and BIEL investors after all. Can't a trained CPA ensure that the company financials are filed timely? The self-appointed CEO/CFO should have anticipated the yield sign and solved the problem before it happened...just like AW should have done with CE Mark, and we know how that turned out for the company; Sales dropped along with the PPS as we were not able to sell Actipath products in the EU for a couple of years. Maybe the apple didn't fall far from the tree.
This is just more of the same old crap management IMHO. Hey "new" BIEL BOD get your act together. Prove you're not the same bullshit management that we've suffered from all these years.
One more thing, let's have a board meeting this year. Yes, the very one you're legally supposed to hold.
Yield Sign
+
No respect for shareholder rights
=
Declining PPS
To balance my complaining about the ill-gotten convertible notes, I should give a shout-out to the actual product, which I've used for many years.
I hope that KT takes this product to the moon and that RecoveryRx and Allay outshine the existing product lines.
I just want to see that when the long-awaited fruit is produced, that it is distributed fairly and equitably to all parties involved in the success of Bioelectronics. Who produced the success? The combination of financial investments together with and the work and strategizing aimed to move this company forward.
Go BIEL!!!!
That's fine, so long as you and all investors are aware that the value of their current holdings could drop about 67% AT ANY TIME, as a result of the ill-gotten convertible notes held by the Whelan family.
The dilution of BIEL is a two-sided coin.
One side: "BIEL used the dilution to obtain FDA Clearance for 5 Medical Indications "
The second side, and often overlooked: the Whelan family diluted BIEL by investing a "nominal" amount of cash, then repeatedly rolling over their convertible notes. In exchange for a nominal monetary investment, they currently hold a value in convertible notes approaching 40 billion shares of BIEL.
I agree 100% with what you stated, except the Whelan family does not deserve 2/3 of the company. Knowing that the Whelan family took salaries, benefits, invested only a "nominal" amount of capital, took advantage of investors, nearly bankrupt the company through numerous stupid decisions, what percentage of the company do you believe is fair for them to own?
I agree with most of the information in your post. However, I take exception to the idea that:
When I see that the share structure remains a substantial risk to investors. The Whelan family could take action today to remedy the situation, they could be fair to investors by unwinding their ill-gotten convertible notes and IMO, the PPS would soar.
I took a break from posting about BIEL at the request of a friend. however. However, the idea that the Whelan family deserves 2/3rds of BIEL needs to be refuted, for the fair treatment of shareholders.
"AW's objective was to create a viable product while keeping the business alive. That requires capital. And like virtually every other OTC stock that results in dilution. Was he successful? Yes. We have a viable product and the company is still in business. "
In addition, and most importantly to BIEL investors. According to the SEC documents, Andy's objective included the defrauding of shareholders via the convertible notes for shares scam. Read the SEC documents and it is all explained in black and white.
The dilution of nearly 40 billion shares of BIEL did not gain the company much money. The Whelan family did not invest a lot of cash into BIEL. Rather, they started with a nominal loan amount and a back-dated note, and renew and renew the note every couple of years to grow a nominal amount of money into nearly 40 billion shares.
Like it or not, the 40 billion shares via convertible notes EXIST and stand to cause great harm to current shareholders. Possibly a 2/3rds reduction in the value of today's shares.
ANSWER: The Whelan family should undo the harm that they've caused shareholders and forgive a significant amount of the ill-gotten notes that they have in their possession.
"Without the loans, biel would have washed away long ago."
WRONG!!!
The loans from the Whelan's were minuscule. The Whelans elected to take advantage of the shareholder harming convertible rate they invested and rolled the notes over and over for well over 15-years.
KW's "one-time, nominal, and undocumented" loan, using a backdated note, has now grown to be valued at over 20 billion shares of BIEL. That is not fair to shareholders.
If the Whelan's had really invested $10 million dollars, the company may have reached success many years ago, and the share structure would not be in its current crazy position.
It was independent lenders that provided nearly 100% of the loans, not the Whelan family. Yet the Whelan family claims nearly 40 billion unprinted shares.
It is the current management that got us into this share structure problem. Why would anyone "vote for letting current management find a solution to the share structure." or "trust they'll craft an equitable solution"?
Based on the Whelan family's long history of ingratiating themselves at the expense of shareholders, I think that there is a high risk to shareholders and their investment in BIEL. Read the SEC documents found at this link,that provide all the history of how this company has operated.
The Whelan's have aggregated about $10 million in convertible notes, which originated from very little investment on their part. These notes can convert to about 40 billion shares of BIEL. It would a positive signal if KW and her mom forgave a lot of the ill-gotten notes that they hold. If so, and IMO, you'd see the stock pps soar to new heights. If the notes remain in place, plan for a 2/3rds haircut to the value of your holdings.
Know what you own, including the risks.
I second that post!!!
Heavy volume continues, which has me scratching my head. Where's the value?
Thanks. That sounds like good information.
"BIEL has proven demand to their plant in China showing they need to invest in more equipment."
Could you elaborate on the above statement? Is this a proven fact or conjecture?
You left out how the insiders will be compensated upon sale of BIEL for the hypothetical $1 billion dollars. They hold notes valued at over 40 billion shares. Those shares need to be added to your equation. The conversion option of the notes is at the discretion of the noteholder, not the company.
"I don't want her listening to a select few disgruntled minor investors. Her attention needs to be on the success of the company"
How would BIEL's President be listening to a "select few disgruntled minor investors?" Is she reading this board? If so, that seems dysfunctional. Why would the CEO of any company spend valuable time reading investor comments when they should be focusing their time, effort, and intellect on moving the company forward. If she's reading what we post, it would be more evident of a rookie CEO.
I feel your pain, but I think that the impact of the two new partners was already in the stock price, which is why we're at $0.003, and not back at $0.008.
Keep quiet until PERTINENT news. THAT is what we got with the latest PR. VERY pertinent news. 'Major players' do NOT give out fluff PR's to hold up a stock price. FINANCIALS do that! KW is acting very professional IMO about releasing ONLY what we as stockholders, SHOULD hear.
Well stated Art, and worth repeating.
Reality, not fluff, wins the long race.
REVENUE. Revenue will lead to no more need of 'selling of shares' to obtain 'cash'.
This is not necessarily true. There's only an indirect relationship between sales and positive cash flow. For example, a company can outspend its revenue, causing operating losses, and subsequently leading to negative cash flow. This creates the need for additional cash, which can be acquired by additional debt or dilution. Sound Familiar?
Cash Flow is indeed KING.
BIEL needs positive cash flow generated by operating profits.
Also, keep in mind that the price per unit sold was much higher in past years. So, as revenue exceeds past years, units sold must be significantly higher now. More units sold = more product awareness. More units sold = lower COGS with stronger buying power(hopefully)= more potential for profits.
There is NO argument to 'SALES is KING'!
The very fact that we are debating this topic indicates that there IS INDEED an argument, and only one of us is right.
Business 101: Cash flow is king.
BIEL has enjoyed positive cash flow over the decades, mainly due to the printing of shares in exchange for loans. I hope that the improving sales trend will lead to cash flow resulting from operating profits, versus new debt.
I’m not sure why the focus is on Kelly’s projections.
When the self-appointed President, CEO, Treasurer, Executive board member shares their views on the company, investors should take notice, and not gloss over the errors.
Investors lose confidence in companies when the management is shown to be ineffective or incompetent. Investors losing confidence = loss in value.
It isn't wise to build a castle on the sand. Likewise, a company will only be as good as its leadership.
You can have all the revenue in the world, but without positive cash flow, the business is heading for failure.
Cash flow is indeed King
hyper growth or not, SALES are increasing. I am always amazed how a select few will always find some form of negative in a positive report from this company.
My point is that Kelly Whelan forecasts over 65% quarter-over-quarter growth, and some are satisfied with 16% growth. I don't think that KW should be given a pass on her projections. Some invested in BIEL based on what she posted, while others waited in great anticipation of these sales figures. She was wrong, and we hear nothing from her except her excitement over a double-digit sales increase of 15%.
Glossing over her errors does nothing to build confidence in leadership and in our investment.
Perhaps if her "feet are held to the fire", she'll stop making crazy statements that hurt our investment.