The reverse split is the least of this company's problems now. The bank is a much bigger problem. A $12M market cap company having to fund $4M a quarter in cash burn is a much bigger problem. The $45M or so in debt makes it hopeless at this point, IMHO.
Why would any sane person take investment advice from a Monkey Man? Why would any investor take advice from a stock promoter with a track record of 100% abysmal failure?
The SEC offers a full description and warning on their web site for this type of charlatan. It is there for a reason.