If the pps is trading at same price after the consolidation, the MC will be less than $1M which mean the company will be "dead". So right how the MC is around what the market view a biotech start-up (probably should be around $100M) and after the consolidation, it will still be around that mark. Even if they can't managed their expense like they still couldn't do last time after the consolidation and had to dilute the O/S, it would have been the same as diluting the share without the consolidation so in that sense it makes no difference.
Proposal to be considered at EGM, page-55
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