"As far as bailing goes, I'm not really understanding your point. I figured he could just drop out of sight and eventually pop up in his next venture. Do you feel that he has stuck his neck out far enough that he could be held legally liable for inducing investment in this, if it happened to fall through?" To find that answer in your own mind, just look at what he posted on this board, or referring to his blog or twitter etc. and when and also the PPS after he posts and draw your own conclusions. If that correlates, I do think that is a problem whether the R/M goes through or not.
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