It seems like you have a strong grasp on the overall prospects of the company - and I share your concern about the next acquisition.
However, the SunWorks acquisition was a stroke of brilliance. In a single-move, Solar3D went from a promising R&D company to a profitable enterprise. There was dilution, but nearly all of the stock's increase throughout this year was because of SunWorks revenue and net income - and not from the promising new solar cell.
The SunWorks acquisition was accretive, and so long as the next acquisition is accretive as well - then bring it on. Solar3D did generate postive net income in Q2 and many of us expect Q3 to be multiples higher. Hopefully, the next deal can be structured with more cash (from SunWork's net income) and more traditional financing.
As for reverse-split - the real wildcard here is the 3D solar cell itself. It really depends upon the success of the cell - if everything is on track and it soon is licensed to one or more major solar panel manufacturers - then this stock very well could go parabolic __/
If the cell is really that good then this company will have the hottest technical breakthrough in one of the fastest growing industries in the world. The stock price will reflect the underlying value of the company based on that outlook and quickly could grow to billions in Market Cap.
The potential of the cell is a major factor for many longs yet is not fully priced into the PPS . . . It is amazing now in retrospect how much more risky it was to be heavily invested in SLTD prior to the SunWorks acquisition.
All IMO - hope you can load up soon and prosper
