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re: stinks for what its worth:
- the consolidation is not the key issue.
- the key issue is the massive dilution. Refer prospectus.
- renouncable rights issues at big discounts (ie 40%+) with "free" options (resulting in diluted capital increasing from c.1bn shares to over 3bn shares) will almost always result in the headstock declining. Most holders (esp big ones) do not want to increase their investment by 50%+! There is not enough detailed info (eg on profits) for new buyers to be interested - especially when there are a lot of other plays out there.
- if you are a bull on this stock suggest NLXR or NLXRA as a better entry than NLX. I like the terms of NLXRA, but it looks like it will be very illiquid. The oppies are a fantastic bonus - but again, only if you are a bull. Personally I dont think there is enough info out there.

DYOR. Comments welcome.