Bioelectronics Corp (BIEL)

[Det_Robert_Thorne]

IBEX and RP notes are treated differently

The IBEX and RP notes are being extended in the event that the company is acquired so that the family members will receive 65% of the buyout price.

That's a completely different matter from the ongoing issuing of convertible debt to third parties, like McLeod, Timothy Kim, Abhinav Humar and James Eason, which are convertible to shares 180 days after issuance. Those notes will be converted and the lenders will continue to buy new notes that will be eligible for conversion 180 days later.

This vicious circle will continue until BIEL becomes profitable or is acquired.