Ok lets put this to bed once and for all ah...heres the calcs...

Ok lets put this to bed once and for all ah...heres the calcs and the relevant announcements.

Announcement dated 20/5/19 LSI Issued 6,208,981 shares + 11,514,105 8.685c options for facility fees/security.
Then on 20/6/19 an SI (it doesn't say the SI is LSI but given it was for $250k I think everyone assumed it was LSI funding but it never got confirmed) took a $250k placement at 5.5c and so ASN issued another 4,545,455 shares as $250k placement
Thus in total LSI got 10,754,436 shares out of both the fees/security and the placement (+the options)
Top 20 dated 12/9/19 shows LSI holding LS WHITEHALL GRP INC 6,339,658 so looks like in total they have sold 4,414,778 shares. Thats my understanding anyway.

So TCB yes they sold some of the shares they got as fees/security but not all of them as you claim....maybe you need to read the above book