I don't really see it as an overreaction. Yep, the share price...

I don't really see it as an overreaction. Yep, the share price is the same now as when both operations were losing money, but back then people were still interested because they were still trying to continue with the tuna project (obviously futile as it was), and that was the dream many holders had bought into. It was obvious that the dream was dead years ago, but CSS wouldn't admit it and investors chose not to see it.

CSS now has no illusion of the chance of a revolutionary project. It was only a silly illusion, but that's enough for many people. All that's left now is a little aquaculture company which may be able to operate profitably... maybe. Best case it's a modest little operation compared to the (unattainable) tuna dream. Perhaps some are still holding in hope that in three or more years they'll pick the tuna up again... it's absurd, but hey, no more than holding for the previous couple of years. I have no doubt that many are holding simply because they can't bring themselves to turn such a heavy paper loss into a realised loss.

So, an overreaction? No, just deluded people finally exiting and the price getting closer to fair value (still way overpriced).

Neither group of holders is particularly likely to take part in a capital raising without promise of a tuna project continuing, and I really can't imagine that they honestly have any real hope of finding a cashed up partner. Who would touch CSS? That just sounds like spin to provide false hope. Few people are going to want to put money into an aquaculture company without a fancy dream, nothing more than a very dull, basic proposition, a shocking history of failure and lies, and a very dubious future.

All just silly opinion, take none of it as fact, DYOR, this isn't advice, etc. etc.