It was I that that threw that 1 for 100 reverse split out some time ago. Although not unheard of, it was a number to use as an example. In reality, the split at .015(today)would need to be around 1 for 66 to bring it up to $1.00 in order to be listed on the Nasdq or Nyse. So, my 400,000 shares would shrink to 6000 with a value of $6000.
Why is a reverse split bad? In most cases it is a last resort to attract investors.However, in many cases the higher price proves to be temporary as the shares once again slip into penny-stock status because institutional investors will not invest in a stock under $5.00. At $1.00 there is no doubt that millions of shares will be offered, further diluting your remaining handful of shares.
At .015 I am not worried about a split. With 249M shares out there, when near 10cents/share, the time will come. We need to remember that management did not pay for their shares-most were awarded.