Spongetech Delivery Systems Inc (fka SPNGQ)

[Xenophon]

It very likely wasn't a loan - it is most liekly Pike trying to post-facto characterize his kickbacks as "loans". He has to have some way to explain the money transfers - those are facts that will be inevitably discovered by Hays - so his lawyers file the letter in the BK case trying to characterize these likely kickbacks and laundered money from share sales as a nominee for Mosky & Mett as being loans.

My bett is that Pike will be in the bag with many others when this comedy-opera concludes with the thud of the curtain .... errr... prison door. It might be difficult to nail Pike, butt that doesn't mean they won't try.