"I would have advised against that, if true!"
Of course it was true and he just made the same kind of deal again! He's done it dozens of times.
This time he got $30,000.
If he decides to repay it in less than 6 months, as he did in the note that you would have wisely advised against, he needs to lay out $46,530. No CEO should be making a deal like that.
Chalk up another win for the letter G in the TAUG rolodex of Seth's buddies.