Debt servicing Unless there is a solid share consolidation move to the tune of 33:1 or 100:1, the raising of additional capital reqd to fund losses and repay debt looks like a diffilcult task.
One option is for the founders to chip in bridge loans to help co get out of this mess in the next 6-12 months and back it by share conversion/warrants not less than 15 cents. This option will be used only if founders are confident and are willing to make an effort to bring this co back to life.
This will help the share price move up and bring investors confidence.
Second option of consolidation and raising capital to pay back debt will considerably dilute the shareholders and IMO even if 1/3 of the debt needs to be paid back the share price will be dragged down to under 2 cents pre reverse split prices.
This is a really tricky situation and only the insiders know what option they wanna go for.
Third option which Andrew Grieve would have suggested is go for CCAA and put the co up for sale, let a stalking horse buy the assets after debt restructuring while the shareholders just mull over their decision of putting additional bad money after good money.
Hope should never be your only plan, this co has slaughtered the investors over and over again while the management and board always have shown compromised decision making.