Bioelectronics Corp (BIEL)

[kidnova]

I don't really want to say I told you so, but earlier in the year when the volume was spiking I said it was likely debt conversion and was roundly shouted down by the board's regulars. If they continue to convert debt throughout the year as opposed to issuing shares directly for cash then it will have a much bigger impact on the PPS.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=84787954

During the three months ended March 31, 2013, IBEX converted $58,929 of the Revolver’s outstanding balance and received 78,571,428 shares of the Company’s common stock at a conversion price of $0.00075 per share. There were no debt conversions for the three months ended March 31, 2012.

The balance of the Revolver as of March 31, 2013 and December 31, 2012 was $1,535,981 and $1,325,947, respectively. During the three months ended March 31, 2013, the Company received an additional $251,000 in proceeds through the Revolver to fund operating expenses. If converted, the Revolver debt at March 31, 2013, at the conversion price of $.0012 per share represents 1,279,983,562 shares of common stock.

If you look at the amount of debt BIEL has maturing in 2013 it does not paint a pretty picture for the rest of the year. Yes, they can extend the maturity date on some of the debt, but that also involves lowering the conversion rate. I know this is an FDA or bust stock for most, but from a financial standpoint this year could be ugly if they don't get good news in the VERY near term.