I feel the need to chime in on a few things tdendz
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Posted On: 01/08/2022 3:49:11 PM
I feel the need to chime in on a few things tdendzone, no offense intended.
I understand the concern over the large amount of convertible debt that IBEX & St John's hold. It is important to remember that these loans provided most of the funding that kept BIEL in business and enabled the securing of 5 FDA Clearances.
The 'AS' or Authorized Shares is the maximum shares that are available for a company to issue.
The 'OS' or Outstanding Shares is the number of shares that a company has already issued.
BIEL has 25 billion AS and as of 9/30/2021 they had 24.184 billion OS.
In order to make 25 billion shares available for IBEX & St John's Conversion BIEL would need to increase the AS to 50 billion. This would require public notice, so shareholders would have notice before the AS was actually increased.
The IBEX/St John's no Interest pledge for 2020, 2021, and now also for 2022 is not a deferral it is a total removal of BIEL's Interest obligation for those 3 years which will total about $2.25 million that BIEL will not have to pay at the end of 2022.
Anyone who followed 'the other board' 3 years ago will remember the nasty posts that KW received demanding she forfeit 17 billion shares, allegedly to raise the SP for everyone. This would have removed the IBEX/St John's majority ownership. Some thought this was a great idea but this would have opened up BIEL to a takeover attempt which could have been from some who were not committed to BIEL's success as much as KW & PW.
IMO, if a Buyout happens the deal could involve BIEL's Convertible Debt being paid off in cash by the buyer rather than BIEL shares.
I understand the concern over the large amount of convertible debt that IBEX & St John's hold. It is important to remember that these loans provided most of the funding that kept BIEL in business and enabled the securing of 5 FDA Clearances.
The 'AS' or Authorized Shares is the maximum shares that are available for a company to issue.
The 'OS' or Outstanding Shares is the number of shares that a company has already issued.
BIEL has 25 billion AS and as of 9/30/2021 they had 24.184 billion OS.
In order to make 25 billion shares available for IBEX & St John's Conversion BIEL would need to increase the AS to 50 billion. This would require public notice, so shareholders would have notice before the AS was actually increased.
The IBEX/St John's no Interest pledge for 2020, 2021, and now also for 2022 is not a deferral it is a total removal of BIEL's Interest obligation for those 3 years which will total about $2.25 million that BIEL will not have to pay at the end of 2022.
Anyone who followed 'the other board' 3 years ago will remember the nasty posts that KW received demanding she forfeit 17 billion shares, allegedly to raise the SP for everyone. This would have removed the IBEX/St John's majority ownership. Some thought this was a great idea but this would have opened up BIEL to a takeover attempt which could have been from some who were not committed to BIEL's success as much as KW & PW.
IMO, if a Buyout happens the deal could involve BIEL's Convertible Debt being paid off in cash by the buyer rather than BIEL shares.
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