Bioelectronics Corp (BIEL)

[Simpsonly]

No question, at least in my opinion, that IBEX, aka KK Whelan, gaining 10's of billions of BIEL shares through the revolving convertible promissory note investment opportunity designed by the former CEO, particularly when she could not 'remember' under oath on the witness stand, the amount of her initial loan injection, that there is at least the appearance of a monstrous years-long conflict of interest, moral, if not regulatory or something worse.

Was there also a breach of fiduciary duty? I'm not a lawyer. There have been many suggestions to simply revise the current convertible Promissory Notes held by IBEX to interest bearing conventional loans, thereby removing the conversion to share and 50% share bonus aspects.

The newly appointed Chairman, Dr. Staelin may be aware of the situation by now and offer an opinion. It would certainly go a long way to removing the toxicity and stench from BIEL after being in the toilet for so many years under the iron fist management of the former CEO. It would also make BIEL less share bloated and more nimble, with greater sp sustainability, when the sp runs after any major deal announcement, in which case all shareholders will be far, far better off. Tactically sound management, I think.