I wish Greg was this smart! Greg's explanation makes no logical sense. He has been so misinformed on so many things going all the way back to Feb. 15th. LOL SO SAD :(
I think Greg made a mistake in his message. If you just replace "my dad and I combined loaned 500k$" into "my dad and I combined loaned 180k$", then it s all clear and consistent with the 10Q. Doog, can you ask Greg to confirm?
Also for the 3 vs 3.5 million it looks ok to me. the bank authorized a 3.5 million loan but 500k from the 5 shareholders who gave 500k are kept as a guarantee so in the end it s 3 million of usable RLOC.