There is no agreement in place it's simple business law, you can't pay salaries out of money raise via share dilution if the company has no other form of income.
Sefton said in one of the podcast the £1M deal client did not want to be named at the moment because they were from a sector that traditionally didn't use this type a marketing.
If he had genuinely misled share holders there is on one place he will end up and as a barrister he would know this.