I am assuming you are referring to this split: 1 for 500 split. Pay date=02/16/2011
This stock has rs a lot of times. The reason you don't see immediate drops is because it is illiquid. It won't go down if there are no trades. It will go down if there is any decent amount of volume. Look at what happened to it Nov '13 - there were a couple of trades over a thousand it it dropped to .25.
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