Here's a surprise!!They consolidated shares recently, then...

Here's a surprise!!

They consolidated shares recently, then further drops in SP. Now they plan to delist? From memory, a previous announcement also said they wanted to take it overseas. (Closer to home in Malaysia maybe?)

Have the cash cow mates' milk run dry?

Is this to remove further scrutiny from the ASX into the company's operations? In response to ASXs recent query: "CHP had $116,291 as at 31 December 2018. The company does not believe that this amountis negligible"
Seven weeks later, how much is left now of this non-negligible amount, presuming the company has been operating, right? Is it now considered negligible?

In response to ASXs recent query: "CHP does expect to continue its operations and to meet its business objectives"
Chapmans' web site still says:
"Chapmans specializes in both early-stage and mature assets, across a diverse range of industries typically on special-situation entry pricing in companies with high growth potential. Using a high-conviction approach that sticks to known growth industries, we look to provide reliably high returns through careful investment selection and active risk management"
Let's just say that the business objectives won't be met. Let's also say that it (we) don't have the money to continue operations.

In response to ASXs recent query: "The estimated operating cash outflows for the March 2019 quarter is approximately$295,000. This consists of $95,000 in staff costs and $200,000 in administration costs($100,000 in legal expenses, approximately $50,000 in audit, valuations and accountancyfees and the balance of $50,000 in other administration expenses of the business). Theestimated investing cash outflows is $150,000 but this is subject to funds being available"
So, we would have burned through the $116k left. How much income have we had this quarter?

What happens with a delisting? Do shareholders still own a proportion? Or are we more likely to see a phoenix?