I don't mind this argument. If foreclosure on the company was imminent why would you put $200k in?
To that I'd say, there are several holders here who have been averaging down through what appears to be Norwoods terminal decline. Gamblers put another $50 in the machine because they think they're due.
The obvious come back to that is that Paul has a much greater insight into what the company is doing and where it's at. To which I'd say that actually maybe his judgement is clouded and maybe he needs to step back to see how the company really is.
Interesting also that he chose a convertible note, which is a debt instrument and not stock to structure the raise. He is a creditor to Norwood and creditors stand before shareholders to receive funds from a wind up. That being said they automatically convert to stock on shareholder approval which would almost certainly happen at a meeting of the company should a wind up occur.
