WRONG !!!
you'll get caught in a trap .. work out the mcap post consolidation 67 to 1 .
at 3c x 67c = $2.01 per share
raise $3.5m at 20c + consolidated shares = 60m shares on issue post consolidation
60m x 20c = 12m mcap
60m x 50c = 30m mcap
60m x 100 = 60m mcap
60m x $200 = 120m mcap
at 3c your paying 2.01 a share or 120m mcap + options ???