I was unable to join the first 20 minutes of the presentation and unfortunately didn't catch much of the remainder either due to disruptions, so I don't know if the comments I'm reading on here in relation to consolidation were garnered from the presentation or if they came from direct correspondence with James himself. I'm looking forward to watching the presentation in its entirety when it gets uploaded hopefully later today.
In relation to your first point awg, I say, they will consolidate at some point in order to make room in the SP for future cap raises. If James has said, either in an open forum or otherwise, that a consolidation "could happen if circumstances support it", then to me, that is confirmation - it will happen! - Not if, but when!
Questions I ask myself in that case - How far away is "manufacturing capacity" ? Conservatively speaking, is it 3 - 5 years? How many times between now and then will the collection basket come out? Can the current SP accommodate those raises?
To your second point, I don't think it's the number of shares on issue that people worry about, rather, it is the affectation consolidation typically has on market cap that is the concern. Look at Weebit as an example of what happens post consolidation. Yes WBT came out of it, but it took a lot of time and pain.
I know this is a touchy subject for holders, so I won't press it further, but it would be unwise to let commitment bias blind us to the realities.
BLG Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
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(20min delay)