I reckon it's just perceived as a penny dreadful and it's got nearly 3.8B shares on issue, and building with the additional shares that will be gobbled up by those participating in the debentures.
Needs a consolidation of shares, 1 for 10 or higher.
That won't change anything in regard to market cap, but I think when the unsophisticated investors, that us apparently, are looking for an investment it gives a warm feeling of credibility when they're looking at a 33c stock as opposed to a 3.2c stock.
Just my thoughts
Ann: March 2023 Quarterly Activities Report, page-127
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