Sounds like Alper wanted a reverse/split..then suddenly didn't. I'd say this calls into question his judgment as a Chairman/ CEO/ CFO/ Secretary/ Treasurer. Now this cancellation is being spun as a "blessing in disguise?"
Do you happen to know what the O/S was before the previous company trading as BLDV went bust? I see the PPS was 0.04 back in 2006 https://www.sec.gov/rules/proposed/s73704/williamsjensen021706.pdf (page 127). Reason I ask is I'm curious to know how much of the current O/S is comprised of old bagholders who were wiped out back then. Now their old shares are worth $0.003 even though they contributed $0 to the current company, correct?