Synthesis Energy Systems Inc. (SYNE)

[StumpsOfMystery]

So, what I am saying is that there is a mysterious 5% that showed up that is more than what AFE and SES SHOULD own if no BF shareholders that weren't already represented BY the two companies showed up and agreed to the merger terms. What is confusing me is that I read that AVAN owned ALL of the rest. Is it possible AVAN broke off a piece of its holdings. Or is my assumption about AVAN's holding incorrect? Or is something else afoot I have entirely missed?