Bioelectronics Corp (BIEL)

[4toSchool]

Could you show a breakdown of your calculation?

This is how I calculated 1.5 cents per fully diluted shares

FINANCIAL REPORT, AS OF 12-31-2020

24,134,783,986 OS
20,224,643,240 Kelly Whelan (IBEC, LLC) convertible notes
21,511,296,207 Other Related Parties convertible notes
65,870,723,433 Total OS, KW and Other Rleated Parties (fully diluted)

$1 billion sale price

$1,000,000,000/65,870,723,433 fully diluted shares = $0.015/share

Keep in mind that there is another $1.25 million in convertible debt held by non-insiders. The # of shares required to honor the conversion option is not disclosed.

Based on a $0.015 per share sale price, the payout would be:

$307,035,390 Kelly Whelan
$326,568,392 Other Insiders
$366,396,219 Public investors
$1,000,000,000 Total Sales price

So, for a "one-time, undocumented, nominal investment" (SEC filings) KW could walk away with $307 million dollars. This payout makes Bernie Maddoff look legit.