Mellon is not only charging 20% interest compoundedquaterly, he's getting paid in shares. Thus the longer things drag out, the more shares he gets. Because he owns something like 25% of the company, you would think if he was acting in good faith to benefit shareholders, AND if they were close to making a deal, A person not looking to enrich hmself on the backs of his fellow shareholders would lend the money at less than half the rate.
This seems like a cautionary tale to me. Always do your DD before investing.