Sorry I wish I had an answer for you. Marco will be the best person to ask. He do respond to his tweets... or your CEI friend from the big firm. Good luck man
Reducing the A/S is an attempt by the company to instill confidence by stock holders that they won't dilute the stock into the ground again. They will, either by flat out selling shares or by offering unregistered shares, that's a favorite of theirs.
Nothing good ever comes from an R/S. IMO it is wise to dump this now and salvage what you can, it's only going lower. You may be way down and don't want to take a big loss. But the losses are only going to get bigger.
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