More Bullshit. KW did make an offer to the SEC. Read the SEC filing SECTION II "Respondents have submitted an Offer of Settlement (the “Offer”), which the Commission has determined to accept."
December 21, 2018 CORRECTED ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS AND A CEASE-AND-DESIST ORDER document found at this link.
KW was banned: IV.
In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions agreed to in Respondents’ Offer.
Accordingly, it is hereby ORDERED that, pursuant to Section 8A of the Securities Act and Sections 15(b) and 21C of the Securities Exchange Act of 1934:
A. Respondents BioElectronics, IBEX, St. John’s, A. Whelan, and K. Whelan cease and desist from committing or causing any violations and any future violations of Sections 5(a) and 5(c) of the Securities Act.
B. Respondent BioElectronics cease and desist from committing or causing any violations and any future violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rule 13a-1 thereunder.
C. Respondent A. Whelan cease and desist from committing orc ausing any violations of Rules 13a-1, 13a-14, and 13b2-1.
D. Respondent A. Whelan be, and hereby is,
barred, for a period of five years, from participating in an offering of penny stock, including engaging in activities with a broker, dealer, or issuer for purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of any penny stock. A penny stock is any equity security that has a price of less than five dollars, except as provided in Rule 3a51-1 under the Exchange Act [17 C.F.R. 240.3a51-1].
E. Respondent K. Whelan be, and hereby is, barred, for a period of 1 year, from participating in an offering of penny stock, including engaging in activities with a broker, dealer, or issuer for purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of any penny stock. A penny stock is any equity security that has a price of less than five dollars, except as provided in Rule 3a51-1 under the Exchange Act [17 C.F.R. 240.3a51-1].
F. Respondents BioElectronics, IBEX, A. Whelan, and K. Whelan shall, pay jointly and severally, disgorgement of $166,640 to the Securities and Exchange Commission for transfer to the general fund of the United States Treasury, subject to Exchange Act Section 21F(g)(3), as follows: (i) within 30 days of the entry of this Order, $16,640; (ii) within 180 days of the entry of this Order, $16,640; and (iii) within 365 days of the entry of this Order, $133,360. If timely payment is not made, additional interest shall accrue pursuant to SEC Rule of Practice 600.
G. Respondents BioElectronics, St. John’s, and A. Whelan shall, pay jointly and severally, disgorgement of $25,000 to the Securities and Exchange Commission for transfer to the general fund of the United States Treasury, subject to Exchange Act Section 21F(g)(3), as follows: (i) within 30 days of the entry of this Order, $2,500; (ii) within 180 days of the entry of this Order, $2,500; and (iii) within 365 days of the entry of this Order, $20,000. If timely payment is not made, additional interest shall accrue pursuant to SEC Rule of Practice 600.
H. Payment must be made in one of the following ways:
(1) Respondents may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request;
(2) Respondents may make direct payment from a bank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm; or
(3) Respondents may pay by certified check, bank cashier’s check, or United States postal money order, made payable to the Securities and Exchange Commission and hand-delivered or mailed to:
