I don't think you fully understand the original LJ agreement and...

I don't think you fully understand the original LJ agreement and the ammendments to the agreement. Or todays query on the 4C.

Basically the shareholder vote you are refering to is to ratify the share issue. Listing rule 7.1 allows the company to issue 15% of the shares on issue in any 12month period without shareholder approval. They are fast approaching the limit.

They started issuing shares to LJ without your approval. Now they are retrospectively getting your approval so they can refresh the 15% and start issuing more.

As per todays update, LJ will draw down $100k per month. They have 4 notes each worth $1.5mil. They will be issued $6mil of discounted shares over the next few years.

BNE need the money so its no big deal. Its a good thing. Also not enough share on issue to attract large players. So issuing more shares will help. It will certainly lower volatility.

Another condition you have overlooked is LJ can only own 19.9% of BNE at any one time. So they are sellers. Firstly because thats their business. Short term funding. And secondly because they are forced to sell to remain under 19.9%