Bioelectronics Corp (BIEL)

[JustGoDeep]

Umm, Potentially---TWO YEARS FROM NOW!!

EXCEPT:

Oh and ALL the issued Notes can be Paid off before hand!!

Oh and THAT is IF the notes and loans are NOT Renegotiated.


IBEX Promissory Convertible Notes Payable
IBEX, LLC is a limited liability company, whose President is the daughter of the President of the Company. Beginning on August 1, 2009, the Company started entering into convertible promissory note agreements with IBEX with simple interest at 8% per annum. All accrued interest and principal on the various notes payable are due on or before the end of the month two years from the date of issuance, whether by the payment of cash or by conversion into shares of the Company’s common stock, unless otherwise extended with new terms. According to the original Security Agreement dated August 1, 2009, the Company grants IBEX a security interest in, all of the right, title, and interest of the Company, in and to all of the Company’s personal property and intellectual property, and all proceeds or replacements as collateral for the convertible promissory note agreements. The Security Agreement has been subordinated to the EX-IM Bank.

FACT!!

Most Conversion Shares are 1-2 Years Away and most very well might not see the Light of Day!!

Biel!!

Monster!!