After the sudden resignation of the company’s only independent...

After the sudden resignation of the company’s only independent director this board now consists of Dale Rodgers, CEO and Chairman and not independent and Anthony Gray who is not independent as he represents the interests of the major shareholder, Ian Gandel.
Our constitution states that we should have a minimum of 3 directors and one should be independent and should be the lead director.
After the loss of the independent director the company announced that the major shareholder had made a loan to the company and the provisions of this loan have not been announced yet. They also announced a massively diluting and very unpopular capital raising.
The lack of money has come about due to these directors not making provision for a con. Note of $2.5m which the auditor had warned the company about on a few occasions. Also these directors spent $16 in the first 6 months of this year and so their actions can only be described as negligent.
These directors are renowned for not updating their shareholders and as directors they therefore are the only ones who know what is happening and what the company’s prospects may be.
These 2 announcements which if the company is successful will favour these 2 directors families and associates and therefore can only be construed as conflicts of interests especially in light of the fact that there is not one independent director and the lack of money has happened because of their negligence in not making provision for the note.