RE:Share consolidations are amateurish at best Had all day to think about this share consolidation. It doesn't pass the smell test to me. As previously mentioned, who cares about the share price. It's irrelevant and should only be about market valuation when it comes to institutional investors.
So, here is what I think happens. The reverse split goes through and we drift down to $1.50 range (~22MM mkt cap). Financing done for $3MM or 2 MM new shares issued, which would represent 13% ownership. None of this happens if the clinical trial is a bust and we drift even lower. Totally a guess on my part.
It all comes down to why were two, not one PR firms hired if the trial did not go well. Fooled me big time. I gambled and lost big (on paper so far). Why not save the cash for COTI-219?
One very small positive is they did not change their name.
Have a great weekend and hope for some news next week, but I am very skeptical.