Bioelectronics Corp (BIEL)

[4toSchool]

LOL to "Post of the Weekend Award"

HE DIDN'T FINISH THE PARAGRAPH. HE OMITTED "shares to be issued on the conversion of these IBEX notes has increased to 21,893,546,573"

The full text is as follows and can be found at this link.

Starting in 2012 and continuing through December 31, 2019, the Company has extended the maturity dates by up to two years on several separate notes through multiple agreements with IBEX, as a result of insufficient cash to make payments on amounts owed. In exchange for the extensions, the conversion prices were changed to 50% of the existing market price of the Common Stock on the date of the maturity. Due to the drop in stock prices since the original note issuances, the corresponding shares to be issued on the conversion of these IBEX notes has increased to 21,893,546,573 at December 31, 2019.

The main issue is the ill-gotten convertible promissory notes and their impact on non-insider investors. Why would a long-term investor put money in a company knowing that their investment could drop by about 67% on the whim of a self-appointed CEO / President / Treasurer / CFO / Executive Board Member that has been involved in significant self-dealing? So much so, that she can convert her notes, along with her mom to gain a massive controlling interest in the company? These are the same people that won't honor shareholder rights.

SOLUTION: New CEO and disgorgement of ill-gotten gains.