Replies to post #224894 on Bioelectronics Corp (BIEL)

[JustGoDeep]

It Was An Oversight From What 8+ Years-Ago

They Were In Fact Registered Just A Bit Late.

[srinsocal]

The SEC could have started a new Administrative Proceeding against BIEL, in fact they had already assigned a new Judge.

BIEL offered them 7.4 cents on the dollar vs the Initial Judgement and the SEC jumped at the chance to put this botched prosecution to bed. The SEC even offered 1 year terms on the fines.

Sounds a lot like the SEC Case was less than solid.

The $192k Settlement was cheaper for BIEL than paying an attorney for another 3 years to go a second round with the SEC. The wording of the Settlement declared that BIEL did not admit to any of the charges made by the SEC.

"Respondents have submitted an Offer of Settlement (the “Offer”), which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over them and the subject matter of these proceedings, which are admitted, and except as provided herein in Section V, Respondents consent to the entry of this Order Making Findings and Imposing Remedial Sanctions and a Cease-and Desist Order Pursuant to Section 8A of the Securities Act and Sections 15(b) and 21C of the Exchange Act (“Order”), as set forth below."