Yeah, they said that last year too. They had plenty of time to complete the upgrades.
The truth is, they are addicted and couldn't stop selling shares. It was too easy.
Nothing they've sold in the last month had anything to do with the "upgrades" so that story belongs in the dirty clothes bin along with the rest of the BS.
That's why there is in excess of 1.5 BILLION outstanding shares out there right now.
And Yes, the reverse split makes a lot more sense than not doing one at this point in time.