Yes, a R/S requires a filing with the State in which it's incorporated -- Nevada -- but they did that. That's the document you see copied in Twitter. It's labeled "name change" but it contains the notification of the impending reverse split.
As I said -- they have to notify FINRA, and then they have to wait 10 days, but that's all they have to do. FINRA might "deny" the request if the paperwork isn't complete, but that's unlikely -- it's not complicated paperwork.
And yes, FINRA might deny the change if the company is "the subject of pending, adjudicated, or settled regulatory action or investigation or criminal or civil action related to fraud or securities law," but if that's the counter argument to what I said, well, that would be a lot more bearish than a R/S.
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