From my point of view, the company either don't want to do CR or it is hard for them do CR, so what I can see is, the management issue a lot of shares and doing consolidation, I guess they will do consolidation again in the future. The management got compensation from issuing new shares but I get nothing. I own 500,000 roughly, while after consolidation I only own 100,000. If the SP be 2.125 comparing 0.425, my total stock valuation is the same, but actually I lost 400,000. Next consolidation my total shares by 5: 1 ratio is 20, 000, do you still think it's the same? For me, No.
What you said shorting is not true. 0.425*100,000 has no difference with 2.125*20,000. For shortings their cost is the same. Consolidation cannot change shorters, the only thing they can change is the numbers the shareholders own. This is not a fair game, this is robbing shareholders. I like GXY so much ,while I am so dissapointed about consolidation. I will vote no, that is no doubt.
