IMO:
While I agree that the CN holders are grossly advantaged this is either an act of complete desperation for funding or a strategic move by an unnamed entity/s.
Technically they are not shareholders until the CN/s are redeemed for shares and I would assume that the increase in SOI is something that is reported to the ASX.
The Preliminary Annual Financials due 31 August should be INTERESTING reading regarding how much debt they are in.
I would doubt that many (or any) shareholders excised the "Loyalty options" unless they are clueless.
That's 5.15M less then add 5M+in debt so they will need 10-20M to get to producing.
How?
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