calm before the big ann, page-29

With my experience working with public companies that have 1 billion + shares on issue such as in HAW's case they have increased registry maintenance fees and lots of share holders with non-marketable share holdings. This is only minor in nature but just giving you an idea of why it could be percieved as negative.

I guess the main consideration that I would see as an issue is further capital raisings. If the share price is low such as 1 cent this may make future capital raisings less attractive to investors and it may make share price appreciation more difficult due to the fact that a minor incremental change in Share price upwards means a large jump in market cap due to the amount of shares on issue.

There is also the negative effects of consolidations. If at some future date a consolidation would occur this would most likely have a negative effect on share price initially as this is the general outcome of consolidations.