Friday, May 20, 2022 4:44:16 PM
Well maybe not Biel, But Andy Whelan, Patricia Whelan, and Kelly Whelan, sure did a lot wrong.
Here's just a sample of what they did wrong.
For years, the Whelan's have pull on the heartstrings of many investors.
We've been repeatedly told that borrowing from IBEX and St. John's was needed to "make payroll and keep the lights on."
How did Patricia Whelan, St. John's, LLC, come to claim being owed 20,792,944,394 shares*** of BIEL? Purportedly she loaned money to BIEL "so that BIEL could keep its lights on". However, Andy borrowed money from IBEX for payroll**, he then designated a portion of the borrowed money as his salary, and caused BIEL to transfer the money directly to St. John's, after which St. John's loaned the money back to BIEL at outrageous terms. Terms that according to the SEC caused "substantial harm to investors"*. This "egregious and repetitive misconduct"* significantly contributed to Patricia's "accumulation" of shares. No wonder the SEC repeatedly used the terms "ill-gotten gains" and "self-dealing" to describe the Whelan family. BIEL clearly didn't need to borrow money if the money was immediately reinvested in St. John's. What was the purpose of this self-dealing? To increase the wealth of the Whelan family. Patricia now claims that BIEL owes her $5,289,037, as of 12-31-2019***
IT IS TIME FOR A SHAREHOLDER VOTE TO ELECT DIRECTORS. WE SHOULD ELECT DIRECTORS THAT ARE FREE OF CONFLICTS OF INTEREST. DIRECTORS THAT HAVE NO HISTORY OF SELF-DEALING, NOR OF KEEPING ILL-GOTTEN GAINS. DIRECTORS WITH STRONG MORAL AND ETHICAL STANDARDS. THE BY-LAWS OF BIOELECTRONIC CORPORATION LEGALLY PROVIDE ALL SHAREHOLDERS THE RIGHT TO VOTE. CONTACT THE BOARD OF DIRECTORS AND DEMAND THAT YOUR RIGHTS ARE HONORED.
* SEC document, page 42, https://www.sec.gov/litigation/apdocuments/3-17104-event-143.pdf
**Kelly Whelan funded BIEL payroll. https://www.sec.gov/litigation/apdocuments/3-17104-event-143.pdf Page 8 footnote
*** 2019 Annual Report: https://backend.otcmarkets.com/otcapi/company/financial-report/243332/content
All of my comments are based on my own due diligence and are only my opinion. Please conduct your own due diligence and research before deciding whether to buy or sell any stock. My posts are for entertainment only.
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