pretty certain, the shares were issued to him two yrs before the reverse split and when issued no statement was made about being non-dilutive. I think his shares along with EVERYBODY ELSE'S were reverse split. Think about it, if they weren't affected by the split then when the split occurred he would have become a 10% owner of the entire company. Did he deserve this massive ownership position just for waiving interest on $500k loan? I don't think so.