I agree that it is unlikely that YA will do an RS. In order to ensure a 51% vote to approve the RS, YA would have to convert and hold more than a billion shares and that would blow their 144 exemption and prevent them from selling that billion shares, so I think that possibility is remote. I was only responding to a post asking if the price might hit $.25 anytime soon and I stated the only way that could happen is with an RS. My feeble attempt at some humor around the very depressing story of NEOM.
My personal opinion is that the doctor is not going to save the day and that YA knows it is fast approaching its day of reckoning- that explains their conversion and sale of over 100 million shares per month over the last 6 months or so.
I suspect that YA may extend the due date for another 3 to 6 months if they can come up with a scheme to pump the stock one last time and suck the last bit of cash from NEOM's investors. While lots of small investors are hurt, my opinion is that YA realizes it will eventually need to unload the IP at a price that is well under 10% of the $76 million needed to pay off all of NEOM's current liabilities. NEOM has been comatose for many years and YA will not pull the plug until its liquidity option of selling its shares to unwitting investors drys up completely. So when investors finally wise up and say enough is enough, then the game will also end for YA.