If they were going BK Why bother with a reverse split ?
I am sure they are doing everything they can to keep this afloat. The owners have significant holdings. The thing that they have accomplished is muddying the water to the point the average shareholder can't tell what they have or what they will get. If they paid out at the same dividend rate as before all the share dividends and reverse split they should be paying around $1.50 per quarter. If they announce a quarterly cash dividend anywhere near $1.00 the stock will soar. Even $.50 and this thing rockets.