Bioelectronics Corp (BIEL)

[edbi46]

--" Here is my response from Paul Knopick when asking about the convertible debt...

From management:

The loans from all three of my daughters, my son, and wife have carried the Company. We have also personally guaranteed the Exim Bank loan. Without the loans, the Company would have been history a long time ago. The other directors have also made very substantial investments. In addition to the loans, we have worked for many years without compensation.

We have made very substantial progress in product and market development on a fraction of the cost for a medical device company. Our nearest competitor has spent at least $100 million more than we have, without anywhere our progress.

We could have called the loans and taken the assets. They should be thankful not concerned