You do read correctly and thanks to the efforts of the newly minted BIEL team, from Chairman Staelin to everyone else, seen and unseen, things are unfolding beautifully.
Only thing holding the SP in the toilet may be the absurd share structure, schemed by a former CEO. But the solution of IBEX and St. Johns LLCs switching their surviving convertible notes to conventional interest loans, after giving them 5 to 7 billion shares as a sweetener for doing so, will avoid the share # catapulting to approx 65 billion and dissuade watchers or disgruntled shareholders from seeking accountability from the LLCs and BIEL again.
Haven't innocent stockholders been through enough, as a result of former times and schemes? Only fools don't change their minds and who needs more trouble and controversy, at this point?
I would much rather continue to sleep like a baby, knowing what our DD shows, through deductions, to be the next brilliant move by Team BIEL, seeing will be believing IMO, than have the company embroiled in trouble. This is not troublemaking or nonsense. Why?
There are several entities, we all know about, who are very bitter that the two LLCs and BIEL absurdly testified under oath that they had no memory or evidence to reveal the "nominal amount" of former management's scheme investment in BIEL, that would justify owning the majority of stock. But, the former CEO bragged to a few....
All it takes is one of the already angry and bitter and a mouthpiece to cause trouble. Subsequent lenders, who all wrote real checks for real $$$, lost, despite a 50% discounted share bonus and interest, in that they had to take a 50% haircut in sp to sell any shares.
What a cluster of pain and misery for all stockholders, except the LLCs and especially when testimony revealed millions of $$$ had been distributed to them, with half being churned back in to create more notes and half spent on lifestyles, again and again. Past misdeeds? Yup, but the 35 plus/minus billion share hit lives on....
Forget all the labels for these behaviors, shouldn't have happened, because it's in the past, some say. Except, again, the 35 +- billion share scheme survives, as proof that absolute power corrupts absolutely. Do the right thing, avoid trouble, which lifts the sp out of the toilet, and still get very, very wealthy, thanks to ActiPatch, I say.
