Probably when they figure out what other bad financial problems and deals were done out of desperation by Bill Caldwell and they get those settled. Rabin should have waited to announce anything about a reverse split until he had a solid Nasdaq answer and all the paperwork in order. This is why we went from .27 to .08 and why were are now stuck here. I say HIRE A NEW CEO!
On April 26, 2012, the shareholders approved an amendment to the Certificate of Incorporation of the Company to effect a reverse stock split of the Company’s common stock, par value $0.001 per share, at a ratio not less than one-for-twenty and not greater than one-for-eighty, and reduce the number of authorized shares of the Company’s common stock in the same proportion as the reverse split, with the exact ratio to be set within such range in the discretion of the Board of Directors without further approval or authorization of the Company’s shareholders, provided that the Board of Directors determines to effect the reverse stock split and proportional reduction in authorized shares of common stock and such amendment is filed with the Secretary of State of Delaware no later than December 31, 2012.