I've probably read 99% of all posts here for the past 3 months (really). That's why I was surprised to see your support for the AS and not the RS, without understanding the result of the RS, until now. I'm NOT trying to sound judgemental, I appreciate your "level headed" opinions!
Assuming 300mil authorized AND outstanding today, and a 1 for 10 RS, the AS stays at 300 mil but the OS would be 30 mil, leaving 270 mil "available".
From the DEF 14A:
The number of authorized shares and the par value of Common Stock will not be affected. The following chart depicts the capitalization structure of the Company, assuming an Exchange Ratio of 1-to-10, both pre- and post-split (the post-split issued shares may differ slightly based on the number of fractional shares), but does not include the effects of Proposal #2, regarding the increase of Authorized Shares:
Pre-Reverse Stock Split
Authorized Shares Issued Shares Authorized but Unissued
300,000,000 246,398,668 53,601,332
Post-Reverse Stock Split
Authorized Shares Issued Shares Authorized but Unissued
300,000,000 24,639,867 275,360,133
Sorry the copy/paste mushes the numbers a bit, but you can see the "authorized but unissued" result, as of 1/26/15 above...
