The difference between shares and a loan is that shares have
a) no cap on the returns
b) give you control over the company
c) limited ability to sue if the company acts against shareholder interests
d) no due date
Differences a, b and c seem to be gone here. Would you give someone a loan where you have no ability to sue them if they never give you the money back? I wouldn't unless that person is very important to me or the money is insignificant. Neither is the case here.