Habu - how do you propose that a reverse split is "highly dilutive?" Also, if not a rights offering, how do you think this company should finance itself? Please elucidate.
Sounds like you'd rather own shares of a company that doesn't raise capital, doesn't pay it's executives or directors, doesn't make investments for potential value creation and doesn't look towards the future, but only dwells on the past. I think I saw some stock certificates for Enron on ebay recently, maybe those are the shares you'd be more comfortable owning.
.....after reverse split nothing will happen other than owning an 'over' valued stock. this stock will be a $0.50 stock pumped up to $2.00--$2.50....no different than taking a peanut and jelly sandwich putting a garnish on it and selling it for $15.00