It's quite crafty of Heddle, as far as these types of things go.
Making a gigantic personal loan to the company certainly seems like a strong endorsement.
Anyone who was still willing to step up and invest more in the company would have done so after Heddle made that loan. After all, why would a "successful businessman" make a loan of that magnitude unless he was sure of success?
And then two years later, we find out that he likely paid himself all of that money, and more, through a sneaky maneuver, leaving the company penniless. This was clearly done in such a way as to give the misleading impression that Heddle still has millions of dollars of his own money at risk.
And as you point out, the debt owed by PTOI to Heddle continues to pile up. Heddle will end up having made quite a pretty penny on a failed company when all is said and done.
Making a gigantic personal loan to the company certainly seems like a strong endorsement.
Anyone who was still willing to step up and invest more in the company would have done so after Heddle made that loan. After all, why would a "successful businessman" make a loan of that magnitude unless he was sure of success?
And then two years later, we find out that he likely paid himself all of that money, and more, through a sneaky maneuver, leaving the company penniless. This was clearly done in such a way as to give the misleading impression that Heddle still has millions of dollars of his own money at risk.
And as you point out, the debt owed by PTOI to Heddle continues to pile up. Heddle will end up having made quite a pretty penny on a failed company when all is said and done.
