Ann: Update - Consolidation/Split - ICG, page-28

Fair point Paul.

Ross used a similar example in his recent letter to SHs...

"Using round figures, a hypothetical company, but not unlike Inca, has 4,000,000,000 shares on issue. Its share
price is 0.1c. It makes an announcement and the share price moves up by 0.1c – the lowest quoted increment.
The market cap commensurately increases by 100%. If the “starting” share price is 2.0c the same share price
increase represents only a 5% increase in the market cap of the company. In share price discovery terms, such a
gain is more likely to be sustainable and to be built upon."