firsova, INQ are loaded with cash- $14.3m in September. the...

firsova, INQ are loaded with cash- $14.3m in September. the share price has fallen to 1.2c as I write, with a market cap of $15m. That means the HUB24, brokerage and research services are market priced @ about $1m. One could say on this metric, that the company is undervalued.

Consolidation itself is not such an issue. It's the scale of it that could be a problem. As there are some large holders of many of the shares on issue, the possibility of illiquidity might be causing the sell-down now. The free float will be tiny, and that can cause those great leaping moves that is is having now pre-consolidation.

If a bigger fish takes them over, they can put all the Directors in different cubicles. Check the ASX ANN's over the past few years: Placement -> BOARD RESTRUCTURE (usually in capitals) -> a bunch of Director change notices
-> placement -> BOARD RESTRUCTURE, etc.

There's a bunch of talent in this company, good IP, etc. Why they didn't consolidate 4:1, or 10:1, is a mystery.