Replies to post #233518 on Bioelectronics Corp (BIEL)

[gimmee greenbacks]

Great point Srin..hadn’t thought of that.

Always pays to take a second and third look at proposals.

Especially considering underlying motivations..




BIEL

[pinhigh]

Yes...a great post! KW probably wants to maintain control of the company...so not put it at risk. She wants to see her dad's dream realized.

[4toSchool]

Individual investors have contributed well over $30 million to keep BIEL in business. KW has contributed a "one-time, nominal investment" which she couldn't document to the SEC, and "never put any additional capital at risk". She has amassed millions of dollars in ill-gotten notes which are convertible to billions of ill-gotten shares of BIEL. Yet she stands to control BIEl? This is unethical at best, illegal at worst.

"ill-gotten" is how the SEC described the notes and monies KW collected via her insider dealings with her dad, AW.

All the while, the Whelan family has thumbed their noses at shareholders. They've not abided by the legal formation documents that require an Annual Meeting of Shareholders, during which shareholders vote on company Directors.

KW should gratefully accept $6 million in note repayment, for her nominal investment. Most every longterm investor, those that contributed the $30+ million, have lost money on BIEL.

If the Whelans knew how to commercialize a product, they should have been making money since 2003 when the product was approved to treat post operative eyelid surgery. If they'd have done this, the AS would be in the millions, not tens of billions.

[Simpsonly]

Close to being correct is a major step - it wasn't omitted, allow me to remind, and why I've suggested, perhaps ten or twenty times, that the Whelans would obviously create the Shareholder Alliance first, then have BIEL/IBEX simply change the convertible notes to conventional debt.

Sorry, I always presumed the tactics of protection and retaining voting control, fair for all Shareholders, a given, were glaringly obvious. Easy to form the Alliance, would only take a couple of days, with people being busy.

Here's a start - just ask all shareholders a simple question: Who would proxy their stock to Messrs. Staelin and Nalepka and Ms. KK Whelan so that their stock is voted to mirror decisions of the Directors on the Board, except for decisions involving corporate debt, divestitures or M&A implementations?

I suspect very speedy Shareholder responses would be forthcoming, necessary to form the obviously needed Alliance to protect major and minority stockholders from mismanagement, corruption, revolts and piracy.

Maybe if we had been more fortunate in having such an Alliance 5 years ago, we would be on the shelves of CVS, Walgreens and and and......or 10 years ago... interesting thoughts. Wishful, or wistful, thinking. Things would surely be different.... Oh well, this is now...

Just fix the self-destructive share structure. Change it from the past self-serving to self-helpful for all shareholders. Anyone tired of being in the $ .000whatever toilet? After how many years?