No, a completely wrong, erroneous, clueless statement.
MMEX's reverse split affects only the outstanding/issued shares (which for MMEX are the same) - NOT the authorized shares. MMEX will still have billions of shares in dilution to serve after the ex-split event. That is the whole point of the reverse split - lather, rinse, repeat.
The MMEX STRONG continue to make clueless, misleading, and deceptive statements in the hopes of buoying this toxic turd to keep it afloat.