I don't understand this line of thinking. There were no buyers....

I don't understand this line of thinking.
There were no buyers.
The value of your holding was $0.
Mine too.

95% of $0 equals 50% of $0.
If there are no buyers, your loss is not 50%. It's not 95%.
It's 100%.
One month ago, it was 100% impossible for you to recoup even 0.001c.

There can be no runs scored without money in the bank. And this co is broke.
There can be no money in the bank without some kind of CR.
There can be no CR without consolidation.

If the SP races back to $0 ( as I suspect it will), it won't be because of a consolidation.
It will be because that's what the market thinks it's worth.