I don’t think you understand the problem, it’s indirectly market cap, but with one billion shares OS, they aren’t going to get a $1.00 PPS. The contracts can’t be executed without the 38 million dollar offering succeeding. Those shares are being sold at $5.00 not 2 cents. They have to get the PPS over $5.00 to raise the money. The only way to get the shares over $5.00 is an RS.
At 500:1 split everyone loses big time. Investment wiped right out. Earlier in the year they said no reverse split so lets see what happens. They are better off retiring shares and let the stock rise on it's own accord.