It wouldn't be a reverse split - it would be a BANKRUPTCY. And in a bankruptcy, if it survives, the SECURED CREDITORS (ie. not the shareholders) are given gazillions of shares in exchange for their SECURED DEBT. Shareholders interests, if any, get diluted to next to nothing. So yes, you and anyone else would have 50,000 shares in my example. But no, that would not be the number of shares outstanding.
Why is this so hard to understand? Or do you actually understand it and hope that people who don't understand it will buy some of your worthless paper?
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