I spoke to the head of WWAT IR at the time that people started talking about the R/S. She was very firm that $1/share was in no way a trigger for a reverse split. The board wanted to reserve the right to r/s at some point in the future, should it become appropriate, and the $1 limit was just a way to assure people that there wasn't a typical, pink-sheet r/s in the immediate offing (I think we were at about .65 then). A r/s is not necessarily coming anytime soon.
This is the one stock I have that's taking off. I just wish I had A LOT more of it....