You’ve nailed it, Bavarian and that’s the part no one wants to admit.All the signs point to this being less about “imminent good news” and more about survival math. The capital raises have gone from standard placements to convertible notes, and now the register is so bloated they can’t raise more without a reverse split.
This isn’t bullish, it’s damage control.Let’s be real commercialisation isn’t around the corner. Even best case, we’re talking 2026–2027. That’s a long road to fund with trial costs, salaries, and overhead and they’re not doing it from revenue.This consolidation clears the way for the next raise, probably pitched at a “premium” to the new share price.

But give it a year and we’ll likely be right back at 2 cents again just holding fewer shares this time.As for those saying this signals “big news” come on. If they had a Nasdaq listing or BP deal locked in, it would’ve been in the announcement headline, not left to shareholder imagination.

This isn’t the start of a breakout. It’s the setup for another rinse-and-repeat!!!