Then why not issue the r/s during the current period of Jan-Mar 31, 2016...?
Because there was an entirely new crop of buyers for the common stock and the toxic death spiral holders were able to convert and dump almost 3 BILLION new shares during that period. And they had plenty of stock to issue under the 13 billion authorized, so there was no need to reverse split the stock then. But now the stock is back around no-bid and they are near the authorized limit. The buying has dried up. So in order to reset the stock and allow the toxic holders to convert and sell more stock, they will again need to reduce the O/S and reset the stock.
Which is exactly what happened with the last 2 1-200 reverse splits. The conditions today are very similar to what they were when those reverse splits were announced.
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