Don't know where your 90% figure comes from.
Right now, I own several million shares with a value of $0.
Trying to figure out how I can lose 90% of that.
Post consolidation, I assume I would own fewer shares with a value of something better than $0.
Probably not much better.
Cat, pls have a look at LOM to see how a share consolidation can be made to work.
I doubled my money there. Bucking the trend, 100% of my profit came post-consolidation.
But honestly speaking, this consolidation will probably happen regardless of what you or I think.
It is often a prerequisite for the bigger investors, and may even be a condition imposed by the coy's potential JV partner. Wouldn't be surprised. That was almost certainly the case for LOM.
If it doesn't happen, the next step might be receivership.
All IMHO. I have no access to such details.
Good luck either way.
Don't know where your 90% figure comes from. Right now, I own...
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