What did he say, that he would NEVER do a reverse split, or that it wasn't in their current plan?
I don't believe it can be considered off the table. Most shareholders don't want to go through that again, but even some of those who claim they will sell out and move on if one is ever announced again will likely step up and show support if one is announced, just because it's current management who will convince them it's the right thing to do.
I do believe Estrella will try every other option first. But I'm saying it might be the only option left to get to Nasdaq due to the share structure of the company. But Nasdaq has restructured their requirements for small companies, so perhaps there's an option that doesn't rely on share price as one of the requirements for listing. We should probably look into those requirements.
To claim it's never going to be done just because management stated it wasn't in the plan is unrealistic, in my view. They also stated that shareholders would be very pleased with the share price by the last SHM. They also stated they expected airship contract revenues in 2012. Still waiting on it. Hopefully it happens. But just because they state something doesn't mean it has any basis in reality.
