IMO, this was worth the announcement if it was made last July (2022).
Based on what was told prior to the consolidation, sharholders expectation has moved past this and they were expecting an update on funding.
We were made to believe there were institutional investors waiting in the wings. The only hurdle, it seemed, was the SOI which did not meet "institutional investor expectations" and therefore the consolidation.
Where is the follow-up on that? Where are the investors? And if there weren't any desperate investors dying to give MGT their money, why didn't they wait for the optimization study before consolidating?
Had the consolidation not resulted in over 50% drop in SP ( and I am sure I am understating that drop) the shareholders wouldn't be complaining.
IMO, this was worth the announcement if it was made last July...
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