I have a lot of patience Piney....
Quoting the current CEO, "If I were to become CEO of BioElectronics, for a day, and you were to call me, here’s what I would tell you":
DRAFT Press Release, Not for Release until approved.
The Board of Directors of BioElectronics Corporation, (the “Company”) manufacturers of ActiPatch, the FDA cleared, patented drug-free, side-effect free miniaturized pain device is pleased to announce the following;
Effective immediately, the Board of Directors of the Company welcomes the election and addition of 3 new Directors;
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The Board of Directors of the Company also announces, effective immediately, the retirement of Mrs. Patricia Whelan, widow of the late Andrew Whelan, Founder and CEO of the Company. The Board and shareholders thank Mrs. Whelan for her service to the Company during the last few months of important transition. The changes to the Board of Directors increases the number of Directors to 5.
The Board of Directors is also pleased to announce the surrender and cancellation of certain Convertible Promissory Note – Common Stock debt instruments held by lenders related to the Whelan family and representing potentially 28 billion common shares of the Company, on conversion, and that the debt related to those Convertible Promissory Notes has been restructured to a more simplified debt format, that is unrelated to the issuance of common shares of the Company. This extremely significant and responsible change initiated by the Whelan family puts in place a more equitable situation for all shareholders and positions the Company in highly positive light to new, potential investors, moving forward.
The Board of Directors is also please to report that the company and all staff members continue to work diligently and to achieve significant and exciting progress in the area of New Business Development and will advise Shareholders as to progress in a timely manner and when appropriate.
The Board of Directors wishes to express its sincere appreciation to all Shareholders for their continuing support and loyalty to the company and its vision with respect to the development of marketing strategies of the ActiPatch family of products.
END OF DRAFT Press Release
