nucflash, they're not issuing 100M to the O/S they're upping the A/S to 100M because they want to sell $20M worth of post-split shares and the A/S would be only about 4.6M. Selling $20M would add about 5.5M to the O/S depending on the post-split selling price.
They're issuing 100M shares POST split because "the company would have only 2,941,177 shares after the Reverse Stock Split". Calculate the price of the stock after a 1-for-850 split and then multiple that by 100,000,000 shares. Tell me what dollar amount you come up with. You're only a few hundred million bucks off.
If they know what their pps will be post split, and know how much money they need then why not only authorize the required shares? Why authorize 26x what will be the new o/s...? Thats right they will authorize the equivalent of 2600% of the new o/s ... that means your holdings will devalue by 2600% once they dilute the full a/s.. which we all know they will..