Bioelectronics Corp (BIEL)

[4toSchool]

There are not a lot of shares tied up by insiders, or noteholders, and therefore I don't see a significant opportunity to move shares from weak hands to strong hands. The most recent filings found at this link the "Number of shares in the Public Float: 23,607,160,607 as of date: 9/30/2020. 2 “Public Float” shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers, directors and control persons." So, KW owns 37/3 million shares, PW holds 350 million shares, Dr. Staelin owns -0- shares, KN owns 100 million shares. Not many shares when there are nearly 25 billion shares outstanding.

Every BEL investor should be concerned with the sale of the notes or a conversion of the promissory notes which require over 40 billion shares to be satisfied. As the conversion option is the choice of the noteholder, I think that BIEl likely has a legal obligation to raisee the AS to accommodate any noteholder seeking the conversion of their notes to shares of BIEL. If the AS is raised, our investment goes down, and it could go down around 67% to fully satisfy the existing notes, most of which the SEC deemed as "ill-gotten".