I can't figure why they did that 30 : 1 split, bought back most of the shares (turned them into preferreds, bought by insiders/investors), then did a 5 : 1 split. Now a 4 : 1 split. My impression is that it's positive but it would be nice to get some perspective on the overall motivation. More shares will mean a tighter spread (that could have been the motivation for the 30 : 1 split since they knew they were going to buy back most and exchange for insider preferreds). I guess it makes sense to be concerned with tight spreads when you know you want to buy a lot but not drive the price up too radically at the same time.
IMO, sec filings are the proof in the pudding. Very hard to obfuscate what with the GAAP and SEC police.
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