Ann: Notice of General Meeting/Proxy Form, page-12

Exactly.

The current market capitalisation of ME1 is $9,460,000.

There are 4,728,824,027 ordinary fully paid shares on issue.

Last traded price was $ 0.002.

$ 0.002 x 4,728,824,027 = $ 9,460,000.

So at the current market cap, immediately after the consolidation at 20:1, there would be 236,441,201 shares on issue and the share price would be $ 0.04.

Yesterday's announcements propose the issue of the following quantities of ordinary fully paid shares:

3,000,000,000 to be issued on 14/2/2024
150,000,000 to be issued on 30/1/2024
120,000,000 to be issued on 30/1/2024

Total to be issued = 3,270,000,000 (pre-consolidation) which becomes 163,500,000 post-consolidation.

236,441,201 + 163,500,000 = 399,941,201 shares on issue.

Within 3 weeks of consolidation, your equity is already diluted by 40%.

If the market still valued the company at $ 9.46 million, the share price would then be:

$ 9,460,000 / 399,941,201 = $ 0.0236

Pre-consolidation, the share price couldn't go any lower.
Post-consolidation, it can fall to the equivalent of $ 0.00005 in today's terms.