Replies to post #208000 on Bioelectronics Corp (BIEL)

[edbi46]

QUOTE - " Biel has so much riding here, I would like Management to address the share structure without a reverse split but perhaps a share buyback. "

And who is to say, PI, that, once profitable, that buy back won't be on the table??? IMO, anything's a possibility, once Company is in a different financial situation, don't you think??

[slopak]

Share buyback would be great!

Its a future possibilty i guess

Concerns are found everywhere

Most importantly now deals - sales

Fda Will come i am sure of it

Allay study

Lots of goodies looking forward too
All imo

[Simpsonly]

IMO doesn't warrant a "share buy-back".

First, any buy-back arrangement would probably require that any buy-back proposal be formally presented to all shareholders on a pro-rata basis, then implemented shareholder by shareholder on that pro-rata basis among those agreeing to participate.

Second, why should the company "buy-back" any shares held by the Whelans, Ibex or St. John's, when the 35 plus/minus billion shares issued to or pending in convertible loan Promissory Notes, were created by churning in the first place?

Those entities injected some money, not much, into BIEL; received MFN Prom Notes; plus interest in shares; plus bonus shares at unknown multiples. Were they at double, triple, quadruple multiples? And, what were the prices? They are unknown, without an audit. Whelan avoided deals requiring the books be opened up....

Those entities then converted notes at vastly reduced bonus prices, sold some of those shares at higher prices, lived well off the proceeds, tucked many shares away, then rinsed and repeated. Ergo, control of 35 billion shares or so.

The scheme surfaced when some guys from New York did it in front of Andy Whelan's eyes many years ago. He made nothing, they made millions, it drove him nuts, he cut them out and copied the scheme using his own entities, Ibex and St. John's. Kelly Whelan testified before the SEC Ibex made a few million one year. So, no way for a "buy-back".

I suggest reading post 207902 again - suggests a surrender and cancellation of 28 billion or so Whelan shares - I suggest the BoD can complete this. Just kill the shares. If the Whelans can't create massive wealth for themselves with their remaining 7 billion shares, then the company will have gone under, so it won't matter.

As to the Whelans protecting their interests AND the company from hostile takeovers (like the parasites are lined up to pull that trigger, too funny), it's falling off a log easy to form a control block voting alliance to prevent that. Based on a new AS of 34 billion shares (62 billion less the Whelan surrender of 28 billion) they would need an alliance with an additional 7 billion shares to maintain voting control. That could be achieved with a few phone calls and signatures!

No impediment - just fix the self-serving, idiotic share structure that has kept the company in the toilet for years. It was never intended to be a long-term share scam, I mean scheme. Only a one or two time hit so Whelan could make some cheddar. When he said in 2008 and 2009 the FDA would be a slam dunk in 90 days! Remember when?

Then the 10 year regulatory fiasco ensued, heat, no heat, no money, no deals, no plan, uggghh and he turned the share scheme into a long-term art form and more that 35 billion shares. So, which will prevail? Common sense, or greed? Didn't want to go backwards here, the share structure needs to be undone and fixed, then everyone does well. Not so bad...