The topic/rumor of a reverse merge still has not been substantiated. I for one believe the CEO is currently exploring other possibilities for business direction. I do believe the company will release some sort of material information informing us when they have reached a possible business direction, until then everything you hear is hearsay. Read the last filing, it says it all there. But remember the statement: Buy the rumor, sell the news.
(all posts are my opinion, not advice)