Commsec showed 6c when the code first changed as they multiplied...

Commsec showed 6c when the code first changed as they multiplied the last traded price of .5c by the consolidation ratio of 12.

The next day showed 0, which is closer to true value as the next large raising and giveaways are around 1.25c, which is around .1c pre-consolidation.

I now have 25,000 SMG that owe me $15k, so my av price is now 60cps and worth around $300 if the proposed equity raising goes ahead as planned, which seems likely judging by the rather apathetic voting display by small holders recently.

I imagine the company is delaying the equity raising until as late as possible so holders have no choice but to accept the dilution or see the company delisted and probably placed in liquidation.

Those behind the resurection of TMZ stand to do well at the expense of small holders if it relists in the current planned form. I'm sure some holders with more on the line than me will accept any deal rather than lose the lot, but I'd rather just see SMG sink and throw away the last $300 than watch the raiders rub our noses in it.

Just my view