Material change of ownership, page-6

I've just spent the last 45 minutes reading over that SEC filing. Some interesting tidbits involved.
I'm not sure what AS needs/wants that money for but one thing I'm certain is he definitely didn't expect the share price to drop like it did. Since his last loan on 16th June 2016 the Share price has over 60% and has had to stump up I think I read 450,000 extra common shares as security for this loan.

A couple of things I picked up.
•The shares that he had to transfer for security on the loans cannot be used for short trading by the lender so you can rule that out.
• The interest rate is pretty decent of 3.25%
• He has a lot of money due on 16 January 2016.
• So far he has been able to continually stump up the cash or shares for reduced collateral value ( except in September when he defaulted but this has now been rectified). Remember the bloke isn't getting paid anymore and just loaned 600k to the company.

Now to what worries me.( potentially)
• These loans are obviously for him to use as a personal basis. What I don't want to have happened though is AS has overextended himself and now with the share price he cannot afford to pay his loans and need an out. I hope that whatever pressure he has on him in his personal affairs does not reflect on what he does for the best interest of shareholders in the public arena.
What I mean is I hope he didn't initiate the strategic review of the business with MS because he saw it as a way to fix his own personal affairs with his loans. Whatever decision are being made need to IMO be made with the best intentions for LT stockholders and not try to achieve a short term outlook.
• Another interesting piece to note is that AS has agreed to share in any upside on the share price after 0.90c US on UNIS shares as part of an amendment to one of the loans. If they is a takeover over made and the share price rises to $5 for example then AS will leave $2.05 upside per share on the table with the lenders. This is considerable money and has me wondering how it's going to play out. Admittedly it's only for the shares that are held as collateral for that loan but it's still worth a thought. Sharing the upside won't be necessary is the loans are paid out before the upside is realised so I'm hoping that he plans to have it sorted out before any result with the MS reviews comes to a head. Otherwise he may not be in a hurry personally to settle something.

"Upside Sharing relating to all Original Collateral Shares and Additional Collateral will be based on US$0.90, any appreciation above US$0.90, will be shared based on the rate of 50/50 between the Lender and the Borrower. Upside Sharing is due when the loan principal and any outstanding payments are fully settled on Loan Maturity Date. Any delay or failure, the loan shall be treated as Event of Default. "


Does anyone know why all of a sudden we are hearing out these loans of AS now? What's happened that he has had to disclose them?
Id like to know what some opinions are?

Any way these are just a few things i picked up.
Don't base any decision on my views but just thought I'd throw my 2 cents in.
Good luck guys. Things are going to be interesting over the next few months.