Why wait, why be patient? I espoused being patient for years, because it concerned the FDA 510(K) process which requires time and patience, everyone who has been involved in FDA matters knows that.
But, the time for waiting and being patient is now long gone - the FDA clearances for the foot and knee in Feb 2017 and the recent general musculoskeletal clearance ends the cold war of being patient and waiting.
It is now the Hot Scramble of beating competition to the shelves, either directly with retailers or through OEM deals.
And the turnaround actions required corporately should wait for nothing, the implementation process for cleaning up the BIEL cluster should have been started in November. We have waited from waiting for faxes, to waiting for documents to waiting for decisions and board meetings and sales meetings. Clean up the mess and drive BIEL out of the toilet! Stop Twittering and yapping and start driving. Lead, follow or get out of the way!
BIEL does drastically need turnaround solutions in a number of areas, most of which remain unaddressed and certainly do not require 180 days:
The 7-Step Management Remediation Plan
Only time with tell if Patricia and Kelly Whelan will do the right things, or not. It is to their direct financial benefit to just bite the imaginary bullet and protect themselves by incorporating vision:
1. SHARE STRUCTURE - Immediately revise the outrageous shareholdings of the Whelan/IBEX/St. Johns on conversion of all Promissory Notes of around 62 billion shares. The Whelans would own around 35 billion of that 62 billion or 60% +-. Reducing their shares by 28 billion, to 7 billion, new total becomes around 34 billion, they would then own 25% +-. Some say it should be reduced to 3.5 billion, whatever it takes to repair the previous damage. Would you rather own 60%, 35 billion shares, of a crippled company worth nothing and going nowhere fast, or 25%, 7 billion shares of a company under restructuring, that could be worth untold hundreds of millions of dollars?;
SYNOPSIS OF THE 7-STEP MANAGEMENT REMEDIATION PLAN DECEMBER 2019
1. SHARE STRUCTURE
2. TRANSPARENCY
3. FAIR OFFERS TO SHAREHOLDERS
4. TOXICITY
5. BOARD of DIRECTORS
6. COMMUNICATION NALEPKA KONERU
7. NEGOTIATE & SIGN DEALS AND DELIVER ON ALL PROMISES!
This brief analysis may help. It illustrates that after disgorging 28 billion of 35 billion shares and reducing the Whelan holdings down to 7 billion, the sp only needs to rise to .0045 for the Whelans to be in exactly the same position they are in now - the toilet! With the increased upside of a company with 34 billion shares out, not 62 billion! Simple.
Whelan Simple Disgorgement of Shares
62,000,000,000 Existing shares 7,000,000,000 New Whelan share #
35,000,000,000 Whelan controlled
$0.00090 Price $0.0045 Price
$31,500,000 Value $31,500,000 Value
28,000,000,000 Disgorgement
It's called owning a smaller piece of a bigger pie! Only fools don't change their minds. For some reason, the Whelans refuse to see the logic, smaller piece, bigger pie! Called fear. . . tic toc . . . . .
