That would be the worst case, not that it's bad. but he really has this as a web with Phoenix Investors and ICT2. Mark has a lot of investment running thru PHI and ITC2.
If you type in google on one line (together)
Phoenix Investors LLC and ITC2 and Mark David with and without RNWF. you get a lot of info on them.
As to my last post on this that would be the worst case, but I'm thinking it's still around 65 million. There was at some point a price target of $55/share. That has long gone for the quietness of the Co.