Ann: Funding Secured from Global Investment Firm, Blackrock, page-27

Initially quite a shock to see a consolidation planned. These things generally lead to a drop in market capitalisation for penny dreadful shares.
The question is why now as there is no pressing need, where a companies share price is actively growing I have seen it being positive for market cap.
At one dollar per share it will be more of a grown up and a more respectable share for the more conservative investors portfolio.
I am picking there is the positive news flow to support the transition, otherwise it will be a poor choice

The No takeover provision is really a no" unwanted" proportional takeover which can be done at a lower price than the company is worth (no control premium) and is already currently in place. So just a renewal of an existing protection, all good