Ann: Becoming a substantial holder , page-16

Thank for the informative post.

You are right about the Feb 20th meeting. The main point I was trying to make is that by getting approval it is no longer part of the 15% which frees them up to issue more. Possibly to directors as you say. We know they have already agreed to convert their debt to equity at a premium.

Regarding the email, it is very interesting. Thanks for sharing.

My understanding is the next note is also compulsory but the company can opt out of notes 3 and 4.

Generally La Jolla are bad new, but I really dont think that applies to BNE. Until recently the biggest negative for BNE was a lack of liquidity. Days could go by without a single trade.

Quite simply we need more shares on issue and we need money. Whats negative about that? If it removes some volatility and attract new investors then surely its positive?

Not sure why Samdina is getting all worked up.