There would be around 65 billion shares (equivalent ) in the old...

There would be around 65 billion shares (equivalent ) in the old pre-consolidation shares, i doubt one will ever see a 1 cent return on these shares. So if you say, o that's in the past , then those losses are realized and become real. And they certainly are real if anyone sells pre-consolidation shares. Roll forward the debts & transfer the losses- is how distressed companies operate, otherwise they would just drown in a sea of debt.