No one here has seen the full details of the funding agreement,...

No one here has seen the full details of the funding agreement, however as it was clearly stated there was 3 x tranches of funding to be drawn down on. Of course QBL will need funds that dilute current shareholders, were in the penny stock game here - that happens. Whether going to market to raise (at these levels with a likely steep discount), or giving a 20% discount to a fund, is there really any difference? with current cash, QBL are set to start generating cash flow almost immediately - only with the funding from Magna.
1st available immediately (back in September), which going by accounts was drawn down on immediately in September before the end of that quarter.
As the two other tranches - both had specific conditions regarding timing of funds being available to be drawn down on, which makes me wonder whether the first drawn needed to be paid back / or converted prior to the MDL funding and subsequent 45 days after this.

You also contradict yourself by insinuating that the company / village genius had something to do with the 50% rise in share price - (which has meant a lot less dilution than could have been), then start banging on about heavy dilution.