Bioelectronics Corp (BIEL)

[4toSchool]

It is bullshit that "Be Aware That Without IBEX and Family Money The Alternative Would Have Probably Have Been Bankruptcy. Money Out Of The Left Or Right Pockets Makes No Difference."

REASON:

#1. AW should have commercialized the initial product for the treatment of post-operative pain relating to eyelid surgery. That would have negated the need for dilutive financing. If done, today's OS would likely be in the millions, not tens of billions.

#2. Major deals were nixed by AW. Was he suffering from dementia, or did he never intend to sell the products? IDK, but I do know that AW killed some great relationships with former BIEL customers.

#3. The funds came from investors buying unregistered shares of BIEL, printed by AW, and granted to IBEX (KW). Not from the Whelan checking account.

4 The financing arrangement enjoyed by the Whelan's was designed largely for the Whelans. For their personal enrichment. It has fed their family for 20-years AND given them the potential to own nearly 2/3rds of our company. They've benefited from this loan program more than anyone else. It was not publically touted to the investment community. Rather, it was kept mainly under wraps and used by insiders.

HOW MUCH MONEY DID BORROWING FROM THE WHELAN FAMILY ACTUALLY BRING BIEL?

#5. The terms of the convertible promissory notes are horrible for BIEL. Less dilutive financing could have been put in place.