I don't know, but maybe VLNC loaned him the money, or it was a "silent agreement for employment (he is new on the job), or he believes he can do what few others were unable to do in the last 10 years, with 1/10 of the resources those others have wasted. I have been mostly bearish on VLNC since it breached $26 ( and got me stuck with a gap down under that to around $24 if memory serves) in mid 2000 or so.