Well now you are nitpicking.It is very clear what they said -...

Well now you are nitpicking.

It is very clear what they said - most investors were declining to put their money in because of large SOI.

That implies if the SOI is reduced then some of the 'Many' investors would be interested. Otherwise why was there so much urgency to go ahead with the consolidation. If there were other things the investors were objecting to, then they should have focused their time and money fixing those things. Why consolidation? Because, the mgmt knew there was no hope for funding and they would need CR soon. And if that was the case, why did they need to use the 'investors' as their justification for the consolidation. That is a bit misleading too.

If the mgmt was aware of alternate reasons as to why the investors were not willing to support, then they should have been very open about it. if there were other reasons and the mgmt wasn't sharing or were withholding information from SHs then that is as good as lying. It is misleading if you only give half the story.

Go back to the historic posts and you will find there were entire threads were members were abuzz with expectations that the investors were waiting to take the plunge as soon as the consolidation is done.

if an announcement deliberately reveals certain things and withholds others and leave it open to interpretation so that it lets the mgmt off the hook, then that is not right.

If this is not poor communication then what is?