George does not own a majority of the FORW common stock. He has voting control through his Pref D.
And no...he could not personally borrow against the value of the warrants...as he doesn’t personally own them...even if he has voting control of the company (a distinct legal entity).
The only way he could legally (well possibly legally) see money from “borrowing” against those warrants is by the COMPANY borrowing money using them as collateral and then turning around and paying that money to George.
And in that case both the loan and the payment to Sharp would have to show up in the company financials.
And no such transactions exist.
I may be critical of Sharp but I don’t think even he is that stupid to abuse FORW to that level for personal enrichment.
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