Saturday, May 23, 2015 10:24:01 AM
As for an "Insider" loan it does not have to be secured except by a Note if the Lender is prepared to accept that arrangement.
Scott presumably has the wherewithal to advance a reasonable amount (loan) however it is unclear as to whether Dan has the resources required. It is disturbing that funds originally described as private (Dan) funds were actually funds from a retirement fund (now subject of a lawsuit).
IMO it is a difficult situation for the Company, hence the Shareholders, unless they can secure a financing to take them through the step that the Company has announced they are undertaking.
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