I agree, the crappy name change is a complete waste of money - what is the benefit (other than to eliminate the stigma of QOL) ???
As per the consolidation
After buying this company for "nothing" and being able to put a ruler over the books and the minesite(s) for an additional few months they are now going to consolidate the shares.
A capital raising is difficult when the shares are 1.4c a share (less discount for the capital raising).
So consolidate the shares up to 14c then you are able to issue shares at a discount.
This means that MLM can buy more shares with the money that they should have invested in the first place.
Possibly they can move their shareholding above 76%? (for a full takeover??) and get the remaining (suffering) shareholders to plough even more money into MLM's business.
Just my thoughts...and remember DYOR !!! :)
QOL Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
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