Oh it will happen, just not how you think it will transpire in the end. In one pocket you will have a tenth of shares in the new shell and "ACTUAL" company, and in the other pocket worthless shares in a shell that will be sold and RSed eventually.
Sure he may play a shell game and that will be one of the rare things that he actually does after making a claim. However, why would you have any realistic hope that it will be good for common share holders in the long run ?
So, ok... a reverse split with lipstick will be one of his lasting accomplishments.
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