Kiss of death for this investment imo. I worked out of my position since the announcement. PR guys try to make this sound like a simple mathematical stepping stone to a listing, but reality is in most cases the stock price dives back to presplit levels or lower.
It will be surprising if they get the votes to effect the reverse split so it's probably a mute point. Most shareholders with a significant position who are actually paying attention to this will reject the reverse split. And good luck convincing the arab who owns about 30% of the shares to approve a reverse split so his ownership can become even more diluted. Won't happen, in my opinion
Reverse split? Uh oh. Kiss this thing goodbye if that is the last ditch effort to raise the stock price. If no one likes it at .40, then the only ones that will like it after the reverse are the same ones that shorted at these levels. To be honest, with the lastest news and the stuff in the pipeline, I thought the stock would catch some momentum, but something is clearly wrong with this picture, and it might be something that only the insiders are aware of.