Ann: Prospectus - Renounceable Pro-Rata Entitlement Offer, page-3

To add a little more context,

The $25M raised at $1.00 in August 2016 came with the announcement:
"$25M Placement To Fast Track Expansion Plans"

The $35M raised at $0.68 in February 2017 was announced with:
"$35M Placement to Expedite Expansion Plans"

BLK raised $60M in placements since August 2016, and drew down $8M from Orion in the September quarter. So since August 2016 they've been in charge of $68M in cash.

On the 30 September 2017 they had $7.2M cash in the bank. (not counting the loans owing)

In the 13 months to September 2017, they've burned through $60.8M in cash.

That's a cash burn of $4.67M a month or about $ 156,000 per day including weekends.

In that context, Bryan Dixon's package of about $400,000 per annum is rather modest.

It's less than 3 days cash burn!