I agree, care needs to be taken, especially after this morning's rise...but your comments of a possible 4:1 consolidation are a little misleading.
They have basically shown their intentions in their announcement, by issuing 3 different pro-forma scenario's;
1. No consolidation 2. 1:2 consolidation 3. 1:4 consolidation.
Why did you only choose to mention the 1:4 scenario?
Anyway, the buying opportunities were certainly better under 5c...but it does not necessarily rule out higher levels.
It all depends on how high they can get it prior to the capital raising.
With some 67%+ of the company in the hands of one group, a decent swag in the hands of other top-20 holders and a market cap of just over $5m even after today's rise, there is every chance in my opinion, they could comfortably get the price up around the 10c mark prior to the capital raising.
It is in the interests of all holders to push it as high as possible prior to this time, in which case the only real sellers might be today's "traders".
Could be decent money to be made here if you are lucky, but not one for me unfortunately...it doesn't fit my trading profile.
Cheers!!
FSL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
