If you read the notice, there are 2 criteria to be met:
1. share price 1
2. Stockholder equity 2.5M
A reverse split only solves problem #1. Stockholder equity (Total assets - total libailities) can only be solved by selling equity from treasury to new investors. That means they will need to do a deal to bring in about 1.27M dollars. Assuming a price of 40c/share, thats 3.2M new shares to be sold. Thats about a 8% dilution if it can be done.
I emailed Bosi today and said that a r/s appeared to be their only option at this point. Of course the last thing that he would consider as an input is mine, and rightly so, but we will see what happens. I can't see how the Panel can approve continued listing just based on promised revenues. I bought another 1K today so I hope the multiple is divisible by 5. Good luck to you and all other longs.