Ann: Consolidation/Split - MGT, page-111

The management of MGT is stained. They were supposed to start production years ago (2014). We are still waiting for DFS. I copied someone's thoughts here before.
''.....
So, in December 2011 I buy in. I am going to retire on this stock! Only three years to production - wow.The market capitalization is $46,000,000There are 306,000,000 SOI valued at 15c eachThrough my broker I purchase 3,000,000 of these for $450,000 plus brokerageI now own almost 1% of the company, which means all being well I have voting rights of almost 1% and would receive 1% of the future dividend payouts in future, all things being equal. I elect to hold the company till production. However 2014 comes and goes and due to market conditions etc, production is nowhere to be seen. I elect to hold on, but I won't put any more money in. Fast forward less than 10 years to today, how does my investment look?The market capitalization is now $110,000,000, more than double when I bought in. Great! Or is it....?No, there are now 3,144,865,942 SOI valued at 3.5c eachMy initial investment of $450,000 is now worth $105,000Plus, my % holding of the company has decreased. When I bought in, my 3,000,000 shares represented almost 1% of the total SOI. Now they represent just under 0.1%.This is what dilution does to long term holders. But never mind: now the new management are going to do a 10-1 share consolidation, so this will fix everything.The SOI reduces down to 314 million - much better. But wait, my my holding reduces down to 300,000 shares.Each share is worth 10x though - so instead of 3.5c they're worth 35c.So now my holding is worth.... still $105,000And my % ownership of the new share register is.... still 0.1%Consolidation hasn't done anything for me whatsoever. I'm a long term holder, and I've been burned by this stock.So, be cautious of holders who are here trying to tell you none of this matters. If you're holding for the short term to make a quick buck, it won't matter. If you're a long term holder, waiting till production and beyond (like my soph investor above), then it will matter.If you don't get it after this post, you never will.''
http://saemc.com.au/archive/2011/11royal.pdf