Bioelectronics Corp (BIEL)

[srinsocal]

Forgo - omit or decline to take (something pleasant or valuable); go without.

The word 'forgo' was used in the 'Update'.


Defer - Put off (an action or event) to a later time; postpone.

The word 'defer' would have been used if the interest would be due at a later date.

Both IBEX and St John's have been 'deferring' interest payments for years as BIEL did not have the resources to make interest payments.


The last sentence in the paragraph further clarifies that the lenders "forfeited interest".

"The Whelan family has collectively forfeited interest in excess of $1.5 million during 2020 and 2021 and will extend forbearance of interest through at least 2022.”