If honesty and self-reflection were to prevail, without hype, without embellishment, and there is one other person sitting quietly, asking themselves - what are the issues with BIEL that are preventing the sp from rising from the toilet it has been in for many years, the answers are not simple, unless one has been involved in the details for those many years and has a knack for getting at the truth.
I can only use the same logic that led me to infer that there was a relationship between low sales volumes, dried-up sales in the EU, including the UK, where ActiPatch had been added to the NHS insured list for patient coverage on prescriptions for the BIEL device. As many know, the final piece was the "deferred sales" of over half a million dollars.
My inference was that somehow the CE Mark BIEL had was no longer. Horrified, I speculated it had expired. After a couple of days, speculating on my approach, I contacted someone in the EU and was advised the BIEL CE Mark was no longer valid. I then called Andrew Whelan and asked him as to the status of the Mark and was advised blah, blah, blah. I responded that it seemed to me that he had not paid the agent monies owed and the Mark had been cancelled. He chuckled and responded, "something like that, we didn't have the money, but we're getting it back.".
We all know how devastating that 'cluster' was, and remains, regarding EU sales and now opportunities in Australia, which piggybacks on the CE Mark as a requirement for Australia and New Zealand. And, there you have it. Millions lost, credibility lost, efforts unrewarded, and still no CE Mark.
Using that same logic on current issues. 2 FDA medical device clearances in February 2017 for Plantar Fasciitis and the knee, followed by RecoveryRX, followed by general clearance THIS MONTH for general musculoskeletal pain. Not pain for a particular muscle or particular indication, general musculoskeletal pain!!! The Holy Grail of pain. It does not, can not, get any better!
So, why do some, as I have, ask themselves, in the quiet of the night, if they are deadly honest,
"Why is the share price still in the toilet?"
Has anyone asked themselves,
"Why are there no deals? Why are the big retailers not jumping all over this? Why are large OEM players not lined up to sign deals? Why has the VA not fully engaged? Why, at this very moment, is the share price at $.0008? Is this ok? Is this to be expected? Is this acceptable?" Ask those questions, honestly.
My sense of logic, the same sense that sniffed out the CE Mark debacle accurately, says no, the situation defies logic and therefor there must be logical answers, logical reasons, because the ActiPatch device is magical, it works and there is a huge global need for it.
The answers were found close to home by asking questions in the marketplace. It's a really small world out there. Large players in the pain market, CVS, Dr, Scholl's and KT Tape were rebuffed when told told "No" by the former CEO. Fact. Some speculate as to the viability of those discussions and deals. Fact. Details of the potential deals were learned, even at the time, the former CEO was urged 'make those deals', I have the proof of that. Fact. "No" prevailed and the shock and amazement in the pain world and elsewhere set in. And remains. One cannot say "No!" without repercussions and we are living those now. All facts.
I speculated, with Andrew Whelan, that it would be difficult, if not impossible, to re-open those doors, after they were slammed shut by BIEL. We know that since the CEO change, BIEL has gone back to various parties to try and re-open discussions. Fact. I speculate problems exist in that there may be a general credibility issue relating to BIEL delivering on promises made. I speculate there is toxicity associated with the name and actions of the former CEO, that BIEL is a family controlled company and with nepotism. Only Keith Nalepka, with his credibility, can get deals done at this point, but not without fixing other issues and quickly.
I speculate that the second major issue is the outrageous share structure, the topic of a full=blown SEC investigation, decisions, fines, barments and here we are with a potential share load of 65 Billion shares if and when all convertible notes are redeemed, including interest. Fact.
So how does one quickly fix the problems and effectively manage the turnaround of an ailing company? First, fix the problems, not the blame. Second, plan the turnaround. Identify the problems and negative perceptions. Move quickly, like lightning, to put the company on a better course.
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. . . Lead, Follow, or get out of the way, but do something . . . tic toc . . . . .
