KNE prospectus not helpful to AJX?

i have just read the KNE prospectus where GR is the adviser via Viaticus. Viaticus is getting so many performance shares and discounted options ( and this is after the number was reduced by nearly half and switched partly to performance presumably after discussions with ASIC) that he has to exercise some on listing so that it doesn't exceed the number of other shares on offer which presumably breaches some listing rule. The adviser appears to get as many as the vendors. The public put up $4m and get under 10% fully diluted. If I remember correctly $600k in cash (1%) also goes out in adviser fees, and on top of that Viaticus appoints a broker to do the actual selling who is paid further 5% fee. No underwriting. E&OE. dYOR.

I suspect AJX may have lost some credibility with institutions recently by association reflecting in its share price malaise. It has certainly cooled my ardour reading it this morning. You'll note though that in itself it's not enough to change my sentiment. AJX has grown up somewhat since and is more than GR.