The Investor Presentation talks about a $5 million capital infusion for this year-- possibly through this stock offering? They could price 500,000 shares at $10 to get that. Toss 500,000 shares into one of those 24,000,000 volumes days and you get your capital pretty quickly. It will likely hit the stock for a while, but that capital would go a long way to financing a few new builds for them for 2017 deployment.
You're focus should be on whether (and how quickly) they can reach a $2 billion market cap to nearly double the stock price, not whether the stock gets split to make for more liquidity. With small cap stocks that are seeing their prospects dramatically improve (and who are increasing their profitability while talking about potential M&A activity!) the last thing you want is to dump more liquidity on the market. If they get to $2 billion in market cap, they are that much closer to catching the eye of larger investment firms who will then see a proven company with plenty of room to grow or even a very juicy acquisition target. When they start piling into this name, the smaller the float the larger the response in stock price. Dump more shares on the market and it will take twice the activity to launch this stock higher.
With companies of this size, it is the fundamentals and the market cap that mean the world, not the amount of liquidity. If you had a local store owner offering shares in his company to his neighbors to raise capital to expand into neighboring towns, would you be salivating at the opportunity to get in on an opportunity to double, triple, quadruple, quintuple in size and still be well away from the law of large numbers... or concerned about how quickly the store owner would split the stock to make for more liquidity? Besides the fact that with less outstanding shares your ownership equates to a larger portion of the underlying company. If you believe in the story, believe in the prospects, and have cash available, buy all you can to increase your holdings in a company valued at $1.25 billion with the potential to hit $2 or $3 billion in the next few years (especially with the current pellet plant order on the books and the hinted at order of equal or greater size by year end, coupled with infrastructure spending coming through over the next 1-2 years). I see Gencor as the potential M&A target-- cheap enough for them to buy with petty cash.