Bioelectronics Corp (BIEL)

[4toSchool]

I don't believe that BIEL will continue to flounder. My concern is if there will be a fair distribution of riches when the company proves successful (i.e. I am not a fan of the 50% convertible note scheme that puts 2/3rds of BIEL into the hands of KW and PW. Especially as KW only invested a "one-time, nominal and undocumented investment").

Having said all that............

Has Andy set up BIEL for failure?

The stock structure sure indicates that he was aiming for failure. Nearly a 25 billion OS, and another 45 billion shares needed to satisfy the convertible notes.

As his health was failing, he had succession plan was a huge risk. Now we have Whelan II, an inexperienced leader with unpaid SEC fines, and an expired CPA license. WTF?

IMO, Andy mentoring KW is not a positive for BIEL.

Did Andy ruin BIEL's future ability to work with: CVS, Dr. Scholl’s, K-Tape, Boots-Walgreens, BBraun, NHS, Protex, Anda, Tesco, etc.?

With all of these obstacles, I still think that BIEL will be a winner. But who will get the riches created be divided fairly, or will the Whelan family take advantage of their ill-gotten notes and walk away with 67% of BIEL, leaving shareholders once again shortchanged?

IF BIEL FAILS IMO, ITS FAILURE WOULD BE 100% THE RESPONSIBILITY OF THE SELF-DEALING, INEXPERIENCED SELF-APPOINTED CEO PRESIDENT TREASURER CFO EXECUTIVE BOARD MEMBER....WHY? She has the ability to do the right thing by shareholders and fix the share structure by giving up her ill-gotten notes, and convincing mama Whelan to do the same. they've lived 20-years off the BIEL teat. Per the SEC court filings, KW never invested more than a "one-time and nominal" amount of capital.