If true, then some sort of capital restructuring must also take place as the minimum price requirements for the NASDAQ is $1 and they do not meet the income, earnings, price requirements for NYSE, not even close.
They would not be doing this if they did not believe (have sufficient information) they could maintain that price level after the restructure and open themselves up to a delisting.
If your broker did the research perhaps they can provide you with the back up, filing etc?