Don't worry guys, the reverse split will not happen.
The reverse split vote is just a backup plan. The price will be more than $5 in 6 months which meeting the bid price requirement. We must have faith on Przybyl. If they don't have plan to raise the share price (not reverse split), they will not request a hearing...
"As part of its preparations for the merger, BioSante anticipated the delisting letter and intends to appeal the determination and request a hearing before the NASDAQ Hearings Panel. This hearing request, if made within the required timeframe, would mean that BioSante’s securities remain listed at least until the panel renders its decision.
In the meantime, to address the bid price deficiency, the Company intends to hold, as soon as practicable, a special meeting of its stockholders to approve a reverse split of its common stock, among other matters. The purpose would be to increase the per share market price for the common stock to a level greater than the minimum $4 bid price in order to regain compliance with the NASDAQ Listing Rules."
