Bioelectronics Corp (BIEL)

[GetSeriousOK]

I would have too, back when they had IP and before EX-IM. The patents were collateral on Kelly's loans. she could have foreclosed and grabbed them.

But then they gave EX-IM bank first shot at the patents.

Then they let the patents expire.

Now, if they foreclosed and went private, they'd lose the money they loaned. Several million dollars, thrown out the window.

What I would do now is a reverse split (or multiple reverse splits) and do new convertible loans to get more money. Then, as the old loans matured, I'd methodically cash them out and dump the shares, just as Kelly and Staelin have done in the past.

Existing shareholders won't complain. They will applaud.