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Saturday, June 03, 2023 6:48:52 PM
The only way KW, PW and RS get their loans repaid is when BIEL becomes profitable.
The last Conversion to Shares was 1/25/2022 by PW (St John's LLC). And what did PW do on 2/4/2022? She started making new Non-Convertible Loans to BIEL. As of the 2022 Financials she had made 7 of them totaling $106,000.
No other Conversions show up in the 2022 Financials.
Dr. Staelin, Chairman of the Board, also continues to make Loans to BIEL. In 2022 he made 9 Loans to BIEL totaling $448,000, all Non-Convertible Loans.
Doesn't sound like the COB is "screwing" anyone. He is providing vital financing and working toward BIEL's success.
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