Clearly these large infusions of quarterly capital allow him to execute deals/jobs/contracts without depleting his normal cash flow to uncomfortable levels, in order to execute jobs that sustain and continue the larger gross revenue. Let's hope his margins support the cost of funds.

At least that how I see this play out as acceptable, and the only reason a owner/CEO would seek for, and accept these 4th position rates/terms voluntarily. If that is the case he should run to the notary and execute that COJ.

Unless he is a desperado (which on the facts presented seems unlikely.) I assume there is a profitable method to the madness. I hope that's the case anyway.