There are many, many ways that Mr. Heddle can comp
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There's no way Mr. Heddle just frittered away the money which he loaned to the company, to pay other people. If he believed in the technology, he would have spent the money to fix the processor pipes. If he doesn't believe in it, it's certainly easy to see that he didn't dump all of that money on useless SG&A expenses unless those SG&A expenses benefited him personally.
It's extremely likely that almost all the money which came into PTOI, like the fraud insurance settlement, the property sale, BOD loans, etc... went to benefit Mr. Heddle. Of course we have no ability to see PTOI's ledger to see exactly where the money went.
And certainly you're 100% right--the money loaned by the two BOD members specifically to fix the processor and PRed to shareholders as being earmarked to fix the processor...should have actually gone to fix the processor rather than wherever it went instead.
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