I think it's PRETTY OBVIOUS. Anyone who denies it is just not willing to come to grip with reality. And using the "uplisting" rhetoric is classic excuse for massive reverse splitting. I could see this coming from a long time ago, as soon as they starting talking about uplisting. That was just classic garbage talk for massive reverse split coming so we can sell you more shares and prolong our existence here.
Company will continue to be funded at shareholder's expense. There's no room left with their current share structure and price to issue shares. They would need to issue BILLIONS of shares to raise any significant amount of money and nobody would touch it, eventually ending up at .0001. So now they reverse split the stock to make it "look" more attractive and it gives them room to issue shares and the price will have a long way to fall as shares get sold off by the lenders. There is no value here for current shareholders unfortunately.
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