I disagree. I don't see the Fung's diluting their ~89% voting...

I disagree. I don't see the Fung's diluting their ~89% voting power to raise capital. If you note their 2015 prospectus they are very careful in limiting the number of shares issued to the public.

I Refer you to the recent annual report Dec 2015 - specifically 17 Loans and Borrowings
Financing Facilities:The Group had the following unsecured financing facilities in place at 31 December 2015:

Lender
ACHPL (Shareholder Loan)
Newberth (Shareholder Loan)
Newberth (Newberth Loan)
Newberth (Working Capital Facility)

Newberth = Newberth Limited, a wholly owned Company of Mr Tony Fung
ACHPL = Aquis Canberra Holdings (Aus) Pty Ltd, a wholly owned Company of Mr Tony Fung

Tony has extended loans of up to $36,450,000 to AQS with $19,110,000 still available to draw upon. Great interest rate of a couple % above the swap.

I see this funding structure continuing. Tony wouldn't want to deal with the issues involved in having a significant number of shareholders on the books, not when what will be a reduced business plan is tabled that can easily be funded by himself personally via related company loans.

The only chance to get a piece of this potential multi bagger is pick up the small amount of scraps that hit the market every now and again.

Ps. Good to see that $19k Directors purchase in March.