Reverse splits have a viable place in the market if company values its share price And your fear tactics are off for more than a few reasons #1 Before split issuing shares to get where they are today is why they have these contracts and soon to be cash flow. #2 For companies that used stock funding for good then reducing liquidity will help share price. #3 It can attract bigger investors #4 It enables better markets #5 Allow new funding with less dilution for growth #6 If you go much lower in share count than 50 mil then you lose the ability for active trading