It's a personal loan, obviously from a friend.
Now, as far as what SNSR is actually WORTH? It might not even be worth $200K if they can't find a use for that 111 foot long white elephant!
If that 111 foot long worm can't show its worth, it's a losing proposition for Joe M. The stock will go down under a penny, the airship will be worth zilch.
Surprisingly, the ONLY thing which might be worth SOMETHING is that storage facility they call a "hangar". He might be able to get a few thousand for that in some "fire sale".
I keep telling myself....deep breath....count to ten....try to answer without personal attack...if available, always try to present fact to back up your opinion.