Maybe, maybe not. 10% of the company, for helping them out of a hole? If they manage to perform a miracle and actually ship units, then it's a sizeable stake. If they go under, he hasn't got much to lose. I think he's just offering guidance.
They claimed that after the first tapeout disaster, someone came along and pumped them with money to carry them through to the end.
That's a lot of "guidance".