The problem here is that stopping the NWS is not guaranteed to bring the share price over $5. Especially if it is combined with a recap and release plan. In that case, you would need a reverse split to relist the shares.
The events also don't have to be consecutive. I actually think the first three of these will happen basically simultaneously. Enough shares issued to recap the companies plus a big reverse split means the shares can be relisted, allowing the new (and old) equity owners the opportunity to sell their shares on a major exchange.
Windup in 1 order and then unwind in reverse.
I see what you're saying, but I disagree that it must happen that way. In my opinion, relisting only makes sense alongside the recap.
News 
Market Data 
Discover 
