Similar share structure to Beatrix... ...back in Nov. 2012, when Moorman posted this on BXV forum:
RE: Half of nothing is still nothing!
Consolidate your shares 50% from 23,600,000 to 11,800,000; and then a couple weeks after that 1:2 consolidation, increase your float by 51% with the placement of 6,000,000 shares (not incl. warrants). At any rate, should they complete the financing as is, it provides them with a lifeline for some limited work over the next short while. Hopefully that work is successful enough to provide a catalyst for the sp, so the next financing in a few months time will be more favourable with far less dilution.
https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31761964&l=0&r=0&s=BXV&t=LIST#qc6XtAK2fIyE7isy.99