Hmmm, I can't agree. Why lend them the second amount of money?...

Hmmm, I can't agree. Why lend them the second amount of money? Ok it's secured but if he is just loaning them money to gain control of the security then why not let them fall over before the most recent loan? As in, what is the advantage to him of the second loan? And what is the cushy job the loan will get for him? The job of finding a buyer for the IP? I'm not sure what you mean about the job.

As you say, shareholders are not secured. He has quite a lot of shares. Much better for him if the company survives and prospers, that way he gets the loan repaid and also his shares appreciate in value.

To me the real question is whether he is astute or simply desperately chasing his initial imvestment. I hope the former but I have a feeling it might be the latter.....