I think today's PR was a example more than a cast in stone 1:10 reverse split - he was giving a example of why it is dilutive.
Straight from the PR: [quote][Example: in a 1-for-10 reverse split, each shareholder will own one-tenth the number of shares as previously, but at the time of the split each share is worth ten times the pre-split price.]
Why in the 14A give a range of the reverse split if they were going to do a 1:10 R/S?
I have always seen a exact ratio but in this case the ratio is left to the BOD to decide.
I haven't looked at previous filings - is the shareholder vote only a few that hold a majority of the shares. That way a date isn't important.
That was a prelim filing with no date for the shareholder vote. They will need to issue a final version and today's PR implied 1/10.
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