Eyetell, that is part of the quoted message from Mudguy, I didn't say it so I'm not sure what his assumed consolidation ratio is.

I agree with you completely - if consolidation did happen it would be disasterous to existing shareholders (including EE). That may be enough to prevent it? With so many shares out it may be difficult to raise cash at these levels.

If they can liquidate one of the projects that may buy some more time?