Except that the toxic convertible debt holders don't want bankruptcy. They want to be able to dump as much stock they get at a 50% discount to market. That is how they make their money and they want to do it as much as possible.
You can bet another reverse split is almost certain to be announced in the next several weeks. With all the recent toxic death spiral convertible conversions, the Company is rapidly running out of available authorized shares.
Market Data 
Markets 
