Your math is ok but, do the math also on after the R/S. 1,000,000 shs /40=25,000 shs... Now the R/S 40-1 is complete you end up with 25,000 shrs X $1.00 =$25.000 gain. That is far better then playing with pennies. Your math before the split was only $10.000 compared after the split was $25.000. We all want to R/S then go to big boards. Anyone agree???