The float is bloated, however in the end all that will matter is market cap - what is TMM worth? If it is worth more than 20 million then the share price will rise.
The problem right now is that no one knows what it is worth - there are no numbers, no clear and legal statement of assets and debits. If, and when, QBID is worth 500 million dollars the share price will reflect that figure AT SOME POINT.
Even though QTN looks good going forward there is too much uncertainty over whether QBID shareholders will SHARE in its good fortune.
So IMO its more the uncertainty over ownership and net value that is weighing down the share price, and not the bloat.
Positive events are simply not being factored in at this point.
MB