Oh no, I didnt see that, thats really a red flag for me to get out. I hope thats not passed but likely it will be, definitely not a good sign though, the reasons for consolidations are to raise more, so looking like we are lining up for another CR, with the cash burn rate and consolidation coming:
A consolidation really serves no point but to make the share price look more attractive for a CR, increases price, less SOI, but is just timely and costly in admin.
For shareholders though it almost always is worse, cant think of an example of it working out well, but plenty of recent examples of it working out bad.
Check out recent ones WSI, ZLD, MOM, MDC, NUH, Ci1, all these consolidations lead to new all time lows. Really no reason for it, just takes up time and money in admin, gives the share price more room to fall, and also allows management to do a cap raies. Ill be voting no, but usually all resolutions go through, so Ill be out before a consolidation and pick them up post consolidation a lot cheaper and on a CR.
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