That by itself is not a violation of the law. Is it? I don't think so. In addition, the company is in debt to IBEX and is not making much of a revenue yet. That is why I like the fact that this issue will be cleared with the SEC before Biel takes off.
Now if Biel needs money, they will either borrow money from an entity or they dilute. I think Biel can easily argue that the terms they are getting from IBEX are way much better for Biel, compared to a third party. Make no mistake that no financial institution will give money to companies like Biel without forcing them to lose their shirts.
All in all, what happens comes at a perfect time before Biel takes off and get FDA clearance. 2016 is Biel's year.
Very Very Very.... Strong Buy
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