I think the company is doing this now because they are expecting...

I think the company is doing this now because they are expecting to have to raise a significant amount of capital sooner than latter for what ever reason that may be ,regardless of there current cash position.
It is bad timing as the market is quite weak for spec investments ,plus all the lower priced stock investors will not buy a stock that is over 20 cents ,let alone 50 cents.
A few weeks to a few months after the consolidation the market cap may not change much ,but I will be staying away unless the share price hits a low of around 30 cents ,but the price could easily go to a dollar rather than fall back.
Just smells like a stock that will be doing a lot of cap raises.