RE: Consolidation is coming...Hi RED,
I have just gone over my Management Proxy Circular. In the Special Resolution where it speaks of the share consolidation that you speak of, there is this line " if deemed advisable by the Board of Directors"
In the Circular, printed under the title CONSOLIDATION OF SHARES, on page 12, it also says;
"will be filed if and when deemed advisable".
At the present I am interpreting that as meaning IF they have to, but not necessarily meaning they will. If they have to consolidate within the next 12 months to obtain funding, the mechanism will already be in place and it would save much time in mailing out another proxy. This could be executed much faster by having this already approved. IMO, if it has to be done, then do it. If this turns out to be the only way we can get funding (which I doubt) then it needs to be done.
We are at a crucial point in this companies journey, to stop or turn back now would be no good for anyone.
This would be called a reverse split IF they had to do it. But, IMO, in our case, this would keep us going til we got our products established in the market and this would be well worth it, if thats what it takes to become successful at this stage in the game.
Remember, they are only asking for the option to be there, if they need it within the next 12 months. Its quite possible a backer could present their self at any time and we wouldn,t have to utilize this option.
IMO, this will be just one more duck lined up, should we need it.
I will be voting "FOR'