Ann: FMDP Drilling Update, page-33

Excessive shares on issue just show the company has aggressively diluted holders. This is more often a red flag that management is crap and hence why larger investors just ignore them because of this all together, and rightly so as there are hundreds of opportunities elsewhere.

I don’t see how a consolidation does anything other than to fool retail. Large investors do their homework and won’t skimp over its history nor does it change the mcap. You still end up with an equally large turd it just comes in different pieces. I’m also yet to see a stock positively improve after a consolidation. The few that do normally underwent a fundamental change afterwards or changed management.