it is about a likely scenario of toxic dilution upon approval with LFB getting items very cheap or a finaning whihc will be shorted into, which will not only need to fund LFB current "loan" but also funding for the months thereafter
Voting no would go for a scenario of having mangement (or new management) get an investment banker to find a buyer for the company.
Both scenarios have different valuation perspectives and both ahve their drawbacks.
it IS about what one feels might get the best return coming times, the company has truly shown a trackrecord not wanting to be taken over at all cost and financing everything at stockholders expense, whilst not even looking for other revenue ... which says a lot
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