Whenever an insider buys/sells in the days preceding a reportable "Material Event" it is suspect and possibly illegal.
The insider sell in December and the YUUUUUUUUUUUUUUUUGE drop one day before the filing of a Material Event is definitely suspect.
This has absolutely nothing to do with the company's status, viability, past trading history, ability to raise financing, etc...
This has to do with trading with the possibly of inside information which was unavailable to the common shareholders and general public.
Hero Worship Inhibits Free Thinking -- Don't Drink The Kool-Aid
. . . . . . . . and of course Reverse Splits SUCK!!!!!