Wave Sync Corp. (WAYS)

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Per the 8K, everyone has been trading pre-split stock. It was never r/s or canceled. The company claimed it set an effective date for the r/s but not a record date. In other words, the company screwed up here -- not the DTCC, brokers, or MMs.

To fix the problem, they plan to do a 1-500 r/s in the "immediate future." The BoD decided not to cancel the post-split stock as previously planned "in order to keep an orderly market." My guess is it's because outside investors who recently bought thought that's what they were buying or maybe to avoid some sort of legal liability.