Bioelectronics Corp (BIEL)

[Simpsonly]

Total nonsense. Andrew Whelan incorporated the IBEX share churning scheme into his plans many years ago. It was intended as a very temporary bandaid to provide short-term financing for 90 days while FDA was ramming the ActiPatch clearances through, as demanded by the same Whelan. That was 2008- 2009.

Over 10 years later, the Whelans are simply not entitled to cover and hold onto 35 billion shares, over 60% of the company, gained by churning the revolver financing scheme over and over for many years of ineptitude and bumbling. Facts!

That was done even when FDA got back to Whelan many years ago and said, "Listen, we find your 510k submission based on heat to be nonsense, there is no heat issue, you need to go back and properly determine and describe what you've got. You've got something, it's just not heat-based and you have to tell us!"

Should shareholders pay for that level of foolishness? No! Doctor Staelin assessed and revised the science with Dr. Koneru, ActiPatch was resubmitted and the first clearance issued by FDA.

Time to stop the nonsense and manage BIEL like a business; not like a dictatorship, based on falsehoods, self-serving gross negligence and self-dealing.

The Whelans now have a real opportunity to reverse the previous egregious theft of shareholder value over many years. The 7 point plan works and lowers the Whelan % of the company from 35 billion shares, more than 60%, to a more fair 7 billion shares or around 20%.

Leave things as they are and the company stays in the toilet and people laugh at the thought of investing in a toilet. Make the positive changes in the 7 point plan and the company (shareholders) thrive.