This is lining up perfectly. I expected a R/S next fall. Been already posting about it before today. This just tells you we have a lot of shares coming our way and they won't R/S for 10 months.
unless the Board of Directors of the Company deems such reverse stock split to be in the best interest of the Company and its stockholders to avoid an imminent event of default under any of the outstanding Notes at such time prior to such date.
Who are the noteholders? They can call for a RS anytime they get 66 1/3 percent to approve it.
Then on top of that the BOD stuck that little bit about "in the best interest of the company" crap.
This one just gets better and better - If they trash what little value is left in the stock I think they will do a spring RS.....Just to screw shareholders an extra time, seems to be the only thing they ever seem to get approval for..REVERSE SPLITS.
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