I too share the pangs of atonement for introducing BIEL to numerous 'FF&E' - friends, family and everyone, based on the efficacy of the miraculous pain device, while being led down the financial garden path of profitability by the dysfunctional former management, while the deception of gaining many billions of shares was being perpetrated, for all shareholders to eventually carry.
This is why the IBEX and St. Johns interests, which, as stated under oath, cannot provide proof of source of the "nominal amounts" of original loans must, at a minimum, having already extracted millions of dollars, convert their convertible notes to conventional loans to undo the past transgressions and to have any credibility. How is it that those 2 interests and BIEL and the banks and accountants, at least 5 entities in all, cannot or will not provide proof of lending of funds for the original loans? How can that be? All 5, financial statements, receipts, checks, letters, bookkeeping entries, bank statements, and there is no evidence of the original amounts?
Guess what. That's just plain impossible! Without such evidence is solid proof that former management was way over the lines of propriety and respect for fiduciary duty and time does not undo what happened. And don't forget, numerous people know the original amounts.
Other real lenders, who received convertible notes as compensation for their real work, real services, and against real loans evidenced by real checks for real money, are now under water, unable to sell those shares without a 50% haircut by unscrupulous brokers, thereby negating any 50% bonus for their incredibly high-risk loans.
There are few secrets in life and it is no secret that if there is no evidence of real loans, then something was wrong! Very wrong. So, it is the obligation of current management and IBEX and St. Johns to undo those wrongs and make things right. And, if not, why not?
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