While in concurrence with your opinion, I would, nevertheless, think that Wily Willy Swoop's signing on to be a bored member of the Reverse Split Move Imminent BOD would make for interesting, titilating conversation around the Portland Intel water coolers. Something to the effect:
"Well, Old Wily Willy has finally lost his marbles. Took some bux to become a legitimating member of the BoD of a penny stock on the OTC BB that has no money, no revenue, no technology, no products, no orders, no sales, no income, and no profits!"
All IMHO.