Ann: Apex Capital Raising , page-63

RRK - disagree based on past experience with others in this situation. the consolidation will just give this more downside space to fall into.

I think the real test will be if the directors participate - particularly if MA uses some of his 'gift' to invest back.

regardless, i wouldn't touch them with a consolidation on the horizon. post-consolidation and if i see proper director investment (not a few token $$) then perhaps it's worth a gamble.