Correct me if I am wrong, but it was my understanding that the price change although associated with the merger was not done under the umbrella of the merger itself, but rather in the process of a reorganization, which does allow for a stock to be revalued. If this were the case then the stock could be reset based upon the book value of the reorganized company.
With this in mind, it has been my understanding so far that the reverse merger was entered into in an attempt to achieve a quick and painless OTCBB and eventually NASDAQ listing. The company in this process is also, to my understanding, being reorganized resulting in the new stock price that we are all waiting to see.
I am currently a shareholder in FHAL for reference to anybody who reads this. This is my opinion and understanding, nothing more or less.