Understood and I thought that the terms of the loan would have...

Understood and I thought that the terms of the loan would have been that he was liable to repay the loan on fair terms. However I find that he is not exposed to any risks at all based on the quote below directly from the resolution passed at the AGM on 17/11/22.

"The loan is intended to operate on a limited recourse basis such that if the market value of the shares on
repayment of the loan is less than the outstanding loan amount, the employee is not liable for
the shortfall. In other words, the employee is to share in the upside of the market value of the
shares without being exposed to the downside."

On establishing this his commitment is therefore not all that meaningful at all. So I withdraw my feelings that the agreement to take up $75000 of the convertible notes creates any comfort around what Julian thinks can be achieved as it does not impose any risk or financial imposition on him. In fact it is an incentive or reward if the company prospers and he suffers no personal loss of funds if it does not.