Yep, this story is all too common on the ASX unfortunately.
They have followed the blue print of raising millions over the years, paying themselves millions, letting the share price sink to next to nothing whilst diluting the shareholders with capital raise after capital raise.
Now they are doing the step of consolidation, maybe even do a name change (which companies often to try to distance themselvs from bad past performance) and watch them rinse and repeat the story again for another 5 years. Good gig if your in the company getting paid, getting all expenses paid trips worldwide, not so good if your a shareholder.
The same old story, management wins, shareholders lose.
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