Simply Inc. (SIMPQ)

[mdimport]

There will be two reverse splits. The opening price after the 5:1 R/S based on the close should be around $1.50, and the stock price should fall back as new post-split shares hit the market. It'll take $IFON back below $1 / share pretty quickly, thus the reason there's going to be a second split.

Say $IFON issues 21.6M post split (40M A/S), then does another 5:1 R/S (21.6 + 3.4 = 25M / 5) and adds another 5M it's effectively 100M new shares but with an end point of only 10M shares after both splits.