Of course it makes sense. It's happened God knows how many times: a sleazy company does a big reverse split, and then dilutes like crazy. Why? To MAKE MONEY. Companies don't profit when shareholders simply buy stock that's already in the market. They profit when they sell offerings.
Why is there all this talk about a forward split? That's not going to happen? Why would that happen? What he's going to do is raise the AS. Don't need the involvement of FINRA and all it takes is filling out a simple form with Nevada SOS, it can be done in minutes.