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I have lost count of how many consolidations they have done. If...

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Randy Savage

5,372 Posts.

1202

12/07/24

19:02

Post #: 74732724
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Originally posted by bungalowbill ↑

The model of a company issuing shares & then canceling them must be outlawed. Also outlawed should be multiple consolidations, say within a period of 5 years. This is to stop directors from living off consolidations. Some people put 30,000 dollars into this for 30 million shares. Then they watched the company cancel 99.983 % of their shares with 2 consolidations which reduced their shareholding number to 4000 worth $4.
The first consolidation was 150/1 and the second 12 months later was 50/1. If they held through both consolidations, their shareholding was reduced by a factor of 7500
It looks like the share capital has been expanded from the last consolidation from 250 million shares to approximately 1.3 billion. So the 4 dollars is probably notionally worth about a sixth, say around 66 cents pending a 50/1 consolidation. They have consolidated the shares previously around 1/50th for every billion shares

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I have lost count of how many consolidations they have done. If they hadn't done the consolidations how many shares would they have on issue now ?

CLZ Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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