IBEX does not currently hold billions of shares, t
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Posted On: 11/17/2020 5:05:50 PM
IBEX does not currently hold billions of shares, they hold Convertible debt of approximately $6 million which gives them the rights to those shares. IBEX has been rolling the loans over as they mature, usually every 2 years, to prevent more dilution.
IMO, this convertible debt gives IBEX majority ownership in BIEL and lets KW stay in control of BIEL. If IBEX retired this debt, as some have called for, there would be a take over attempt.
IMO, the best scenario for shareholders is for IBEX to retain the Convertible debt for now to keep the leadership that has turned BIEL around in place. Down the road I would like to see BIEL pay off these loans with profits on a principle and interest only basis.
Right now BIEL needs to concentrate on fulfilling the terms of all those deals they have signed over the last several months and start the revenue flowing.
IMO, this convertible debt gives IBEX majority ownership in BIEL and lets KW stay in control of BIEL. If IBEX retired this debt, as some have called for, there would be a take over attempt.
IMO, the best scenario for shareholders is for IBEX to retain the Convertible debt for now to keep the leadership that has turned BIEL around in place. Down the road I would like to see BIEL pay off these loans with profits on a principle and interest only basis.
Right now BIEL needs to concentrate on fulfilling the terms of all those deals they have signed over the last several months and start the revenue flowing.
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