I only have the information in the report, which declares the $700K, as follows: "On February 14, 2024, the Company’s CEO borrowed $700,000 from the Company." In the follow-on post, I have compiled the details for past cancelled "loan" to related party: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174410521 . The presentation is different. Thus, I assume it was just a ridiculous personal "loan" to himself.
Regarding the licensing, the related party pays VDRM the license fees, when they pay. It does appear that an additional $35K partial 1Q24 cash payment was made.
In my opinion, reporting receipt of $500K alone of real cash January 31st, verified in 1Q24 financial report, would have been notable enough change from year plus with no actual cash payments. That, also in my opinion, makes your surmised, likely very risky move unnecessary.
The collectability of the new "loan" remains to be seen as time goes on.
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