Bioelectronics Corp (BIEL)

[misanthrope]

Hmmm.... all that, and yet this:

<<<<< that negative cash flow as of the last financial report has gotten more, and not less, serious over time >>>>>

Correct - negative cash flow has gotten more serious, despite lower operating losses in the OEM framework. Where did all that money go?

In September 2021, the Company obtained $50,000 in short-term financing with WebBank, with
future receivables as collateral, requiring weekly payments of $1,033 for 61 weeks. Additional
financing was added in December 2021, and the balance on this financing was $92,142 as of
December 31, 2021.
In December 2021, the Company obtained $75,000 in short-term financing with ByzFinder, requiring
weekly payments of $2,454 for a year. The balance on this financing was $71,496 as of December
31, 2021

So, an initial loan at roughly 26% interest, to which principal was added and the term extended. Then a second loan with something like 70% interest. Meanwhile, cash and cash equivalents dropped from $63,778 in Q3 of last year to a mere $925 in Q4.

Looks like roughly $175,000 borrowed, and gone - along with an additional $63K in cash on hand. Where oh where has it gone?