You can still issue new shares even at a discount to 30c, I...

You can still issue new shares even at a discount to 30c, I don't see a problem to that. There's plenty of stocks on the ASX with $150mil+ mcap and 10c share price

The only problem would be dilution to existing holders if they bought in at $1.00 but if the bod care about that then maybe there is some method to cover that like well in the money loyalty options or something, not realistic though

or what about a non-renounceable entitlement offer? that way all participating holders get diluted evenly and it has zero net relative effect.