I agree that raising money at .02 is virtually unworkable but just consolidating the stock to give an apparent price of .20 (in case of 1 for 10) wouldn't necessarily generate any increased interest.
I believe our company has gone as far as they can hope on "unsubstantiated" prospects. I suspect that their current foray into the field is what all the insiders and others deeply vested are placing their future on. Should those results be "very encouraging" then a number of options would open up for them.
(a) Very encouraging results would no doubt lead to price increment. The new level may well allow for fund raising without consolidation.
(b) Continue to examine consolidation but from a higher base price. For example if the base price were to raise to .20 then the same consolidation would result in a new share price of $2.00 which certainly is more attractive to institutions.
Whatever occurs, I believe that most would agree that there will be little action in any direction until results of current field activity are known.
Onward and Upward.