it is a shares split (rather than consolidation)
one share is split into four
you now have four times as many shares as before
your average buy is $1.40 divided by 4 = 35 cents
the reason for the share split is to provide more liquidity in the market (more shares avaiable for trading)
plus psychologically, it looks better
your $1.40 looked expensive
now your 35 cent shares look cheap
regards
