A R/S might be good for the company, but it would devastating to the current investors. Not man take this stock seriously enough now (hence the PPS even with news/dilution). If this company were to R/S on "new direction" or the classic "Reverse Merger" you can bet they would follow that up shortly thereafter with another increase in A/S. For companies who use these types of tatics to raise money, A R/S allows them to restart what they are doing now. The CEO has already stated that they would continue to dilute to raise money. I for one hope that th idea of a R/S is still "bull" at this level too.
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