I believe you are correct re FF and marketing. However, no one can dispute the importance of or the effect that a known industry professional with a winning background has on a public Co.
Factor Fund has not "taken over the marketing". The Loan Covenant states:
The loan covenant makes no mention that the marketing guy is to be on Factor Fund's dime. So, the marketing guy's salary comes from the $240K "cash" part of the $650K loan, which will be doled up as needed by factor fund:
It is not clear to me if PVSP's new marketing campaign has started yet, and if "Jack" is on the job. Factor Fund is certainly keeping a close eye on when and how the marketing money is spent, Pervasip has to provide Factor Fund with a weekly report showing its revenues and expenses.