I pretty much agree with that but have a couple of comments on the overall logistics of what they're doing. Firstly, I despise consolidations as much as anyone as they don't tend to increase (obviously) the market cap of companies in the short term, certainly not in 2-3 weeks. However in this situation and the sp at 3 decimal points (0.001/0.002) there isn't any other option.
Correction, there IS another option - take the bull by the horns and do it properly - 50:1, not 10:1
That brings the 'buy' to 10c rather than 2c, kicks the hell out of the SoI qty to around 65m and allows more liquidity for trading as well as a better base-point for any potential cr. CRs are almost always done at a discount so with that size (50:1) consolidation, any cr would have a lesser effect on existing holders' 'paper money' and allows a much better window to hold/sell/top up as well as the company not having to do a cr with instos which normally attracts a +5% fee from the cr cash as well as a shed-load of options just for that 'service'.
I'm sure there are more than enough holders to avoid them going to instos - cut out this easy-route middleman expense.
I reckon it's well past time that XST get let off the collar-chain and become independent without shared BoD management.
Way too much conflict of interest.
They know damn well Borba has always been a revenue generator, even with flow restrictions by the pipeline operator, but they've turned it into a 'bs-to-investors' story, coupled with California's growth of servos for hydrogen-fuelled cars.
I've already displayed in some post or other here that their summary of this 'growth' doesn't match, by a long way, the actual facts of current 'progress' in the Californian hydrogen-fuel market - as in, the quantity of new-build servos. They have the means, and have had for a long time, to monetise Borba - including this 'Data Centre' potential bs - yet, all it comes to is lip-service to the market from the 'boy's-club', imo.
At this point, I reckon it's pretty much down to '****-or-get-off-the-pot' for management - do it properly, do it right and take your head out of where the sun will never shine.
XST Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held