And how about that HealFast Therapy for Pet-N-Vet for animals? The miracle has occurred.
Now, they just need to fix the IBEX, St. Johns, Whelan family convertible notes, by simply changing them to conventional interest-bearing debt. Understandable why it is difficult for some to understand why that is fair.
The convertible note situation under discussion originated with a "nominal amount' of actual money to create the first notes for IBEX, Whelan and St. Johns loans. This highly questionable scheme was 'created' by a former CEO, as a short-term bridge and turned into a years-long family self-serving ATM. Curiously, no one involved in BIEL could recall the amounts involved during SEC testimony, under oath. What!!!!
And testimony showed that none of the parties to those loans; not BIEL IBEX, St. Johns and none of the individuals involved or their accountants or tax records have any record of those first loans. What!!!!!
And others who did make real loans and received convertible notes are under water and fan's sell their BIEL shares, unless they take them to a back-alley pirate broker and take a 50% haircut. But don't believe me.
Call a Broker, any Broker, call Schwab on Monday. Tell 'em you have 500 million shares you'd like them to sell. Be ready for the guaranteed negative response. And laughter. The real lenders who loaned BIEL real money, to help the former CEO and the company through.
So, the question is this. Should the 3 entities involved benefit by tens of billions of illegitimate shares, while ALL Shareholders PLUS well-meaning other lenders have been stiffed for more than ten years? The answer forms self-defining character.
Go BIEL - do the right thing. Fix that corrupt share structure, inherited by current management and borne by victimized shareholders.
