Bioelectronics Corp (BIEL)

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In this context "Interest Only" means Loans are 'Not Convertible', No Conversion into BIEL Shares = No Dilution

<<<<<< forgo interest on their convertible notes for 2020, and continuing into 2022 >>>>>>

Everyone was complaining about the 'Convertible loans' and their 50% discount to the share price.

Dr Staelin & St John's said, OK, and have made No new 'Convertible Loans' since December 10th of 2019. Both parties have continued to Roll Over their old convertible loans for another 2 years as they come due.

For the years 2020, 2021 & 2022 IBEX and St John's have forgone Interest on their Convertible Loans. This has saved BIEL $2.5 million.

Kelly Whelan's last new loan was initiated on 10/17/2019. Her last loan conversion to shares was on 3/22/2019. Since March of 2019 she has extended all her loans for two more years as they came due.