You don't want a consolidation. I've just been through that with Emul NL, which is a particularly poor stock. They were sitting at 0.001 with no wiggle room and consolidated by a factor of 30, so shares became 0.030.
My fear came true, all it did was allow them to dilute the stock further. I sold out at a loss, using it as a CGT loss. If anything, it creates worry in the market that there is something wrong with the company or its being mis-managed to the point that it needs to be consolidated (as the stock value is so low), or risk being suspended from the ASX.
Out of interest, why do you think IMU needs a stock consolidation?
IMU Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
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