Just talking, but I might argue since this is a rebirth of a completely different entity that what was there prior to delisting, an RS would set the stage to be able to do an IPO, raise capital for more land and apply further what appears to be a very successful business model. 200 to 300 million shares is lot of shares for a company basically starting a new. With a successful RS, IPO and buildup of well inventory, this could fast track to a higher exchange where a much higher share price is needed.
I do agree, 99% of RSs are a kiss of death, but the vast majority of those are in a much different circumstance than here. If SE thinks its advisable, I would go with it.
JMHO.