Very good post Schuey. I have been re-read the Addendum to...

Very good post Schuey.

I have been re-read the Addendum to Notice of Meeting and update on shareholder meeting timetable and it seems clear that even after the consolidation we will have more shares (just over 1 billion) than we had pre consolidation (assuming all goes to plan)?

It might be reduced slightly if the CR price is higher than 0.2 as they have a fixed $ sum to raise and if the CR SP is higher than $0.02 they will lower the shares being issued in the CR - marginal amount though.

Dilution is very high for existing holders.

Ref note:
Addendum to Notice of Meeting and update on shareholder meeting timetable
"1.13 Risk factors
(d) Dilution Risk
The Company currently has 762,247,323 Shares on issue. On completion of the Consolidation, the Company will have 381,123,662 Shares on issue.
Under the Transaction, the Company will issue 357,142,857 Shares and 517,857,143 Performance Shares as consideration for the acquisition of TV2U and issue a minimum of 200,000,000 Shares at not less than $0.02 each to raise a minimum of $4,000,000 as part of the capital raising referred to in Resolution 5. The capital structure upon completion of the Transaction is set out in Section 1.10.
The issue of the Consideration Securities and Shares under the Prospectus will significantly dilute the interests of existing Shareholders. There is also a risk that the interests of Shareholders will be further diluted as a result of future capital raisings required in order to fund the development of the Business."

Capital structure at 1.10 of that same document looks pretty average - from a dilution point of view?

They refer to attracting institutional investors. However, I think the capital structure is problematic. However, I mus admit that I have not made wholesale comparisons of the capital structure of other companies but my general knowledge tells me that 1 billion shares is a substantial number of shares.

Yes?