Bioelectronics Corp (BIEL)

[4toSchool]

There is a significant difference between lenders that provided BIEL operating cash in exchange for a convertible promissory note, and the Whelan family (IBEX, Jarenz, and St. Johns) that illegally sold unregistered shares of BIEL, used the proceeds from the illegal stock sales to fund convertible promissory notes, then rolled the notes over and over until the aggregate value of the ill-gotten notes exceed $10 million dollars. Shareholders' equity was stolen via the sale of unregistered shares and now the same shareholders are responsible to pay over $10 million in notes to those that defrauded them. Come on man, that's bullshit!

I for one, am not asking for a "surrender your shares"; PW and KW only own 350 million and 37.3 million shares, respectively. My goal is that the conversion of the $10+ million in ill-gotten convertible notes into 40 billion shares of BIEL will not be realized. If my efforts are successful, this would still leave the Whelan family with over $10 million of ill-gotten gains, while allowing the longsuffering BIEL shareholders the opportunity to own the company in which they have poured over $35,000,000.00. There is no justice if a family that invested a nominal amount of money in BIEL, and received paid compensation for decades for their often incompetent work, and via their self-dealing, stand to seize 67% of the ownership of BIEL from shareholders.

I will continue to fight on this board for what is right and good for BIEL shareholders until the notes are converted and we are all out 67% of our holdings. If the notes are converted, the fight moves into a more serious venue.

I believe in the products and I believe that BIEL will be successful. I want to ensure that all BIEL shareholders are treated fairly and not further victims of self-dealing insiders.

I don't understand the mentality that we should all stand down and allow 67% of our investment to be seized by self-dealing insiders. KW is showing herself to be different that her dad. Let's hope that she sees what is right and ethical and takes corrective action.

srinsocal
Saturday, 11/14/20 06:45:43 PM
Re: Simpsonly post# 240829 of 240859

Having the SP out of the fractions and into the whole numbers will "clean the slate of the past transgressions" for me.

This 'surrender your shares' campaign began over a year ago when BIEL had meager prospects, calling for the forfeiture of 28 billion shares. Did not work then and definitely won't now with BIEL at 13, DonJoy selling ActiPatch Enhanced Products, 2 more OEMs coming online by Q2 2021, International Licensing Deal signed, RecoveryRx Distribution Deals for 4 large world regions, return of the CE Mark.

I never quite understood how IBEX making millions of dollars in loans to keep BIEL in business was bad but shareholders making loans with the same terms that IBEX got was OK.

It would seem that if IBEX should be penalized for their loans so should those that got the same terms as IBEX like several shareholders, who bragged about the loans, and companies like Tangiers who also loaned millions.

Trying to hang the errors of the previous CEO on current management is ridiculous as he cast the deciding vote in all BIEL decisions during his tenure.