Well, that would be awkward for two reasons:
(1) Recliner Timmy filed the last Q on the basis that the 1 for 30 reverse split had already occurred. All his numbers are based post-RS in that Q. So that would be 'awkward' to say the least to explain to the SEC and FINRA - and yes those questions would be asked.
(2) With the PPS decline since the 1 for 30 reverse split was announced, the only reason to cancel it is because the ratio is now too low to accomplish the goal, and a new RS would need to be almost 1 for 100 or more to match the post-split PPS goal originally set at the time the first RS was announced.
I think the real prollem is that Recliner Timmy hasn't awakened recently and attended to the FINRA processing request for the RS to be effected on the ticker. FINRA requires certain information and questions to be answered before they process a reverse split request, and if the company is nott forthcoming with acceptable answers, FINRA just sits and doesn't finish processing the request.
In most cases, such FINRA failure to process an RS is due to some sketchy things the company has done - too many RS's too fast, failure to have timely published accurate financials and material information to the market, lack of clarity on ownership and how various classes of shares will be treated in the RS, and other nefarious/sketchy stuph - none of which I have reason to believe applies to DCLT.
So it's most likely that Recliner Timmy has just been lax in getting the paperwork in and responding to FINRA questions in a timely manner. Eventually - even any day now - he'll gett it right and FINRA will process it and it'll be DCLTD for 30 days and the RS will require share exchange of old pre-RS shares for new (one-thirtieth as many) post-RS shares by the brokerages and anybuddy holding certs in their own name.
Then again, Recliner Timmy may sleep until April or May.
