to my understanding it doesn't matter either way, but in my experience when a company announces a consolidation it doesn't bode well for the SP. I haven't been doing this for long though so that's just my 2 cents.
I think the number of shares on issue is usually more important for shells rather than companies actually trying to achieve something, but again I'm very new to this so take it with a grain of salt
MPJ Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held