The reason for the consolidation is to enable further notes with Bergen or La Jolla.
Those funders cant keep selling the stock they pick up at 15% discount if the SP is .01c...hence they will require a consolidation.
If you need proof that your management has just sold you down the river....stay tuned. The cheek to say that we are doing this to make us more attractive to institutional investors is very outrageous indeed.
Who said you wont get any stock at .2c as there are 80m shares lined up ahead of you......lets see come Monday how quickly that wall crumbles.
This is being positioned so that the SP can be sold down by the funder....that is clear as day to me. The SP will be fractions of the current price as they issue more stock, dilute existing holders and then sell the price further down.
I have first hand experience of this and it is not pretty.
Good luck holders, you really do need it now.
Kiril
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