Personally I think it's a good move, this will remove some of the not so serious traders who are just waiting for a couple cents move, and reduce some of the volatility in the price movements if investor interest come back for CNN.
I don't think the larger share holders would want any consolidation at all; If future business prospects seem more positive from now, the share price should stay as is and you'll find current share holders will hold more shares, hence reducing the numbers as you would expect. It is difficult to believe that in the current market mood, to expect the share price to start going up after consolidation, it's more likely to go back to .002c or worst and clean up all current investors CAPITAL and make it impossible for CNN to raise any more funds, this is more dangerous to all concerned.
CNN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
