I know, Apples and Oranges, but there are some similarities. I think this is a situation that calls for the old "don't just do something, stand there" approach. There's something funky going on way behind the scenes. Whether it ends up being good or bad for current investors I have no idea, but it is interesting.
Unless you need the tax relief it would be foolish to sell now. The odds do not favor Capstone in the short term, but to try and predict where it will be next year, or even next month, is impossible. Take your lumps and ride it out is my position. They may do a RS, they may go BK, they may take the company private. They may also surprise and fulfill their potential and become something big. Nobody knows, certainly no one on this board knows.
I'd prefer a quick death rather than the slow death spiral that almost always follows reverse splits. Just BK already so we can all take our tax losses and move on. If CPST can't find success after all this time only a demented person would think things will get better after a RS.