I don't think so. I think the worst is right here, right now. One thing to have the former management fiasco foisted on us: saying "No" to multiple great deals, that would have made BIEL profitable; self-dealing with IBEX, set up by the former CEO; applying to FDA for OTC clearance, based on heat, then the FDA pointed out it's not, necessitating starting over; letting the CE Mark lapse;and, on and on and on.
With the share price remaining in the toilet and shares grew from 1 billion to now 25 billion and the current potential for 65 billion. Ya, that's a fiasco, a real cluster!
Quite another thing to see current, much more competent management make multiple deals with huge players, up-front funding and a bright future, all within 9 months of the regime change and not just starting from scratch, but from a status of much animosity toward previous management, in the marketplace. Tough slogging for anyone to come back from a dark place. Applause due!!!
No, the worst is now because the absurd share structure and the Pink Sheets are preventing a rise in share price and liquidity. Ask your broker, try and sell your shares - you're locked and blocked! As they say in NYC, G'head. Read my lips, it's the share structure. A major issue for years!
That is the self-destructive legacy of former management. Current management inherited the issues and is performing brilliantly, but needs to and can reverse the share structure by changing the Whelan's (IBEX, St. Johns) convertible notes to conventional interest-bearing debt, at no cost. My first suggestion months ago was to have them keep a few billion shares, maybe 7 (? Can't recall), but change the share structure, fast. They win, everyone wins! Goodbye toilet!
That way, they will still make a ton and won't have to battle shareholders, the market, and regulators for suspected self-dealing from the past, negative perceptions, and the CEO and BoD are heroes! a huge killer.
I have been asked, more than once, if I will join a shareholder action, something I will not even consider and I put those down to anger. Always sobering to write a retainer check, knowing it's just the beginning of a nightmare, win or lose, but I want no part of litigation. However, numerous shareholders are very angry and bitter. Easy fix - change the share structure. Problem solved in a day! Stupid not to avoid trouble. And make money doing it? That makes it insanity not to!
