Spoke to CEO Peter. I asked that question if they were considering and say 1 for 10. He stated it was spoken about in lenght with the board, and will not do it in the near future anyway.
He pointed out that,the board was discouraged that similar companies i.e DIO consolidated and it backfired, DIO share price was 17.5 cents pre-consolidation, $2.38,after consolidation. Then slowly went from $2.38 to 85 cents, recovered to $1.20, back down to $1.06, of which is 7.5 cents pre-consolidation terms. that is more than a 60% down. Also MON is lingering after consolidation. I Still hold hold DIO, but sold MON.
Further the company is on track the fundamentals have not changed, now FML has done / delivered on what it stated it would, has an excellent board, of which is working for the shareholders,the loyal shareholders. By this I guess he means daytraders, whom probably do not even know what the company is about. Let them can make their piddly 10 - 15% for now on trades,in the end the longer term holders will benefit.
He also stated a lot of shares will not matter when looking back when the shares are $1, wonder what he means??? Killer announcements perhaps,(my take.)
FML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
