Bioelectronics Corp (BIEL)

[art2426]

>>>But then they gave EX-IM bank first shot at the patents.<<<[/i


I always wondered what ever happened to that $500,000 EX-IM loan and how it was handled, as it was not a 'friendly' loan like those from the Whelans or Staelin and was DUE 11/15/23. So I just checked the 2023 financials and it shows as unpaid and now DUE 12/31/24 for $542,036. So it appears it was extended and interest tacked onto principal amount. That DUE DATE is right upon us, so we will see soon if it is again extended with compounded interest.

For anyone that wants to see all the notes that this company has amassed and unpaid, go to the 2023 financials, scroll down to pages 24,25,26,27. It is not pretty!

A couple other notables from those financials:
(1) Shares to be issued on conversion of IBEX (family) notes has increased to 21,432,680,563. That is what they will get upon their note conversions to stock. The authorized shares were 25,000,000,000 and we know that is just about maxed out with the 24,705,066,971 shares outstanding. So it is clear that they will have to increase the authorized shares for the family to cash in on those 21,432,563 stock conversions. Does anyone really believe they will NOT? Get ready for the market reaction to that announcement of increasing the authorized shares, ie dilution

(2)The balance owed to IBEX amounted to $5,956,000 and $6,016,570 as of Dec. 3,2023 and 2022 respectively. AGAIN NOT PAID so looks like extended.

Honestly, take the time to read those financials and again pay attention to those pages 24,25,26,27. And do not forget to look at the income statement and you will understand why this so UGLY!

https://www.otcmarkets.com/otcapi/company/financial-report/397773/content