"Reverse split is 2 for 1, not 1 for 2. They are consolidating."
Sorry..."2 for 1" would be a forward split. They are mistaken/misleading in their characterization in the PR
I just double checked the daily list. They filed for a reverse split which IS consolidation as it results in a reduction in the OS. A forward split would increase the OS (if they gave out 2 shares for every 1).
They are doing the opposite.
"Reverse Split Ratio 1:2 Dividend Type Reverse Split"