Intl BioChemical Industries Inc fka IBCL

[invest in kids]

I realize that Hicks' shares are not subject to the reverse split but what I don't understand is why REDUCING the number of shares (via the reverse split) is necessary. Doesn't a reverse split end up decreasing the number of common shares or does the reverse split in effect give Hicks a 10 (common) for 1 (of his preferred) deal?

Again, I apologize for my lack of understanding.