With the help and advice of outside accounting counsel,they did their financing transactions in certain ways. All shareholders could know from the BIEL website and doing their due diligence. There were many identical financing transactions, how many, I wouldn't know, but it wasn't a one-time hit and run and hope you're never found out. Presumably the outside CPA was paid. Then, years later, a guy whi was another outside contractor, this time representing himself as lawyer and a member of a Bar and an accounting expert was found to have misrepresented himself by BIEL, tossed out, wasn't paid and went wah wahing to the SEC and sold some staff members a load of crap about how the financing transactions were structured. This will get worked out and settled, however, ultimately BIEL is the player. If they substantiate they were acting on the professional advice of others and without inapproriate intent, well, you know the rest. Happens not infrequently and they get resolved. Little recourse for damaged parties and the guy who misrepresented himself as a member of a Bar has tightened his own noose a little more......a good thing.....
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