Expo Holdings Inc. (EXPH)

[Bullstocks]

It is not a scam move.

Senior management of small companies often take out loans from the company knowing that they have access to (if nothing else) shares that could be surrendered (along with other assets) to the company to compensate for the loan. Would you prefer he sell his personal shares to pay back the loan? I wouldn't. I am fine with the loan being on the books for a payback at a later date. At some point in the next couple of years, JD will likely sell some of his shares and either use that money to pay the loan back or use other assets.

This is a non issue and ancient history. It is on the books so it is not like he is trying to hide it. If he had taken the loan and then tried to write it off, then sure, that would be a problem if the write off were not tied to some compensation or severance package. But that is not the case. He is not hiding it and I see no point in continuing to try to make it sound unscrupulous.