Per SEC 20F and 6K, the shares have ballooned to almost 70 million from 12 million day prior to the 50-1 reverse split.
Also, Hanover can get millions more share and sell, in addition to all the shares they will receive to satisfy the debt. How in the world is that possible, you say? To get the answer read the 20F section on 'Additional Shares Settlement.
This stock will go to .37 - .38 short term and might bounce back briefly. But in a month it will be at .05 because the shares outstanding will be higher than prerevers split.