You're probably right :( Especially with over 4.8 billion OS.. It would be the quickest way to bring the stock price up to look good in the eyes for additional LTF.
My opinion: They need additional funding to get the mill restarted, so how would they be able to re-position themselves quickly? Reverse split.
Not that I would want this to happen (BELIEVE ME) but seeing too many reasons why this could be the intended next move. Hope I'm wrong!