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Saturday, February 18, 2023 3:10:17 PM
<<<<<<<< The note holders must get paid eventually >>>>>>>>>>
IBEX was the only lender who had priority to recover assets in the event of BIEL's BK. IBEX lost this priority to the EXIM Bank several years ago.
The combined debt to the top 3 lenders is over $11 million. BIEL's assets in a BK scenario will not cover this debt. IMO, that is how we know KW, PW, Dr Staelin are doing everything possible to make BIEL a success, it could very well determine if they get their investments repaid.
We saw the commitment to BIEL's success in the millions of dollars in Loan Roll Overs that have occurred. IBEX, St John's and Dr Staelin all have Loans dating back to 2017 that have been Rolled Over numerous times.
We saw the commitment to BIEL's success in the $2.5 million in Interest foregoing over the last 3 years by IBEX and St John's.
We saw the commitment to BIEL's success in the Nonconvertible Loans that St John's and Dr Staelin have made to BIEL over the last two years.
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