Bioelectronics Corp (BIEL)

[4toSchool]

It appears that Kelly "ill-gotten gain" Whelan is trying to whitewash the past by posting on her Twitter account that we should be looking forward as investors, and there is little if any value in remembering the lessons of the past.

Don't look back and ask, Why? Look forward and ask, why not?

In the business world the rearview mirror is always clearer than the windshield - Warren Buffet

I for one, don't want the past white-washed.

Those who cannot remember the past are condemned to repeat it.' (George Santayana-1905).

So, are we learning from history? Has BIEL 2.0 proven to be different than BIEL 1.0?

Reasons that they are one and the same.

1. Family comes first and common minority shareholders are a very distant second
2. BIEL is a family run company and therefore can do whatever they want
3. A lot of talk about selling products to large corporations, but no significant sales are realized
4. Both claim success is "just months-away".
5. Both utilize a promissory note-to-stock conversion scheme to pay the bills, all the while putting money in the Whelan's pockets
6. Operate in a "need to know" basis, and non-insiders don't need to know
7. No independent Board of Directors

Reasons that they are different.

1. Daddy's out
2. Daughter is in

BIEL 3.0 - Learning from the past and looking towards the future, what would I like to see in BIEL 3.0?

1. Independent board of directors
2. Mom Whelan recognizes that BIEL would be hugely more successful by replacing KW, CPA, with a CEO that has a proven track record of building a multi-billion dollar business
3. BIEL becomes successful and buys back a significant number of shares
4. The Whelan "ill-gotten gains" family acknowledges that IBEX was, and is, funded by investors that buy common shares of BIEL. And with that acknowledgment announce that they will not convert the promissory notes which they hold and will accept, even though the money actually came from investors to IBEX, IBEX just a conduit to BIEL, accept the principle and interest payments.
5. Share structure is fixed
6. ActiPatch is renamed "HealFast" or some other more marketable name.

Does anyone else have ideas for BIEL 3.0?