A hostile takeover is done, signed sealed, and delivered. When was the most recent Annual Meeting of Shareholders? The meeting required by the by-laws? Why does the Whelan family, that owns less than 2% of the OS controlling BIEL? Why are PW and KW able to keep their ill-gotten gains? They sit on approximately $10 million in BIEL notes, yet contributed very little cash. I think that the SEC determined that KW made a "one-time, nominal" investment in IBEX, LLC, and has not taken on additional risk, yet she claims BIEL owes her over $6 million?
BATSHIT CRAZY.
Many of the notes were illegally approved. According to the BioElectronics Corporate By-Laws, there must be at least 3 directors.
And any vote where the BOD has a conflict of interest and there is no ability to produce a majority of non-conflicted directors the matter is to be put before shareholders for approval. AW violated the By-laws by not having the three quired directors, yet numerous notes were approved where conflicts of interest existed. Notes with insiders like KW, PW, etc. Those notes that were executed illegally should be legally voided.
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