Bioelectronics Corp (BIEL)

[4toSchool]

How can the loans you mention be valid?

IBEX had 3 New loans Issued in 2019.

Initiation..Amount..Interest..Maturity..Noteholder..SP at Issuance
3/1/2019 $ 50,000 $ 3,353 3/1/2021.... IBEX......... .0011
3/27/2019 $ 50,000 $ 3,057 3/27/2021.. IBEX......... .00075
10/17/19 $ 16,000 $ 263 10/17/2021.. IBEX......... .0007

The Corporate Bylaws of BioElectronics Corpoaration require 3 board members. During the same period as was the execution of the convertible promissory notes, BioElectrronics only had 2 board members, Andrew Whelan and Patricia Whelan. IMO, the notes are unenforceable.