No question KK Whelan wants to help to make BIEL a resounding success as part of her late father's legacy. It is still not, if ever a time to fix the blame. It is a time to fix the problem. The problem with BIEL for over 10 years has been a management problem. KK Whelan now has the opportunity to be a hero, to create her own legacy as the CEO who led BIEL out of its proverbial toilet, the triple zero toilet stall its been in for how many years?
All she must do is have the BIEL Team create a new, larger, stronger Board of Directors, disgorge about 28 billion potential shares controlled by IBEX through convertible loans and Promissory Notes, schemed by the former CEO and make deals. If she only makes deals, the Whelan family and all shareholders will do quite well. If she does all three, the Whelan family and all shareholders will do off-the-charts extremely well.
By reducing the potential shares of BIEL to approx. 62 billion to approx 34 Billion, the company becomes more attractive to investors, less burdened, more nimble and will rise higher and longer in sp with greater sustainability. Not such a hard concept.
ActiPatch is a huge opportunity device, remediates pain safely, patented by the USPTO. After 11 years essentially in the toilet, it traded at 12.9 cents in 2009, shareholders have suffered an arduous journey of alienating the SEC, shareholders, losing the CE mark, spooking the, let's see, pharma, retail, pain and investment sectors and leaving red flags of toxicity everywhere.
This CEO, KK Whelan, now has the opportunity to do one of two things. Not fix the BoD, repair the share structure, do deals and lead BIEL to profits, which would be the colossal failure of all time. Or to do those all things, to pull BIEL out of the toilet, which is what any good management would do. Wish I had the opportunity. Can KK Whelan do it all on her own, as a brand new CEO, sitting on a 3 person BoD, and her mom as the Chairperson? It will be interesting to watch. Hopefully management does something!
