I remember that back and forth correspondence, and thanks for sharing it again. I haven't gone back and re-read it, but I believe Barry's response said that the revenue would be recognized in a later statement . I don't remember the exact quarter it was supposed to have been recognized, but to date it hasn't as far as I've seen.
And that just details the recognition of the revenue in the financials. It does not explain if the money has been spent, and if so, how.
Again, if you had $500K in the coffers, would you be taking on toxic loans ? Inquiring minds want to know !