I think you will find they have been negotiating this raising for a long time. So although shareholders would prefer to see it done post an enthusiastic announcement, I would be confident in saying this was being negotiated well before the consolidation.
One of the first things I look at when a Company comes out with an exciting announcement is 'How much Cash do they have?' If their cash reserves don't support their ongoing cash burn rate then I simply won't invest. I would put it too you that this is the fundamental reason AHZ has not received more support.
Once upon a time I was from the same mould. Make the announcement then do the capital raising. But having been involved in the process I now understand how much of a distraction it is and how hard it is to attract new shareholders to your register when you can't address the concerns over cash burn.
If AHZ address their cash concerns and continue to provide positive news I would be surprised if it does not result in a positive re-rating. This is of course if your insto investors are after multi baggers.
I appreciate none of what I say will ease the frustration of long term holders. It never does.
Good Luck
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