James Marsh - MD Interviews, page-96

I don't get it either. People are obsessed with the trigger word consolidation. It makes no difference, if anything a negative effect as it gives the "share price" more room to fall.

It's an accounting gimmick that gives no benefit to shareholders. Maybe if the SP was $0.001 you do it as an accounting gimmick to stimulate liquidity as the pip percentage change at a higher SP wouldn't be as great.

If anything a split is the one shareholders want to give the impression the stock is cheaper to buy. Tesla was a beautiful example of this with their 5-1 split. People would have seen it as 5 times cheaper, not understand why and buy it up to where it was before. 5 bagger from an accounting gimmick.

There is no reason why ADN should do a consolidation. The only reason I could think of is for some whacky reason, an institution needs a SP to be over a certain denomination prior to investing as some sort of weird criteria.

There's going to be a plethora of people over the next few years coming here saying there's too many shares on issue. Ignore the noise, they just heard the word consolidation somewhere and are uninformed.