You sound hopeful when talking about an R/S, but 95% of the time it is disastrous. If the company is worth .001 now, let's say even .01 if not for the dilution, then an R/S will not change that worth. Sure, immediately after the split it will be worth something, but in all likelyhood, it will plummet back to where it was before.
Also, don't forget that the O/S will be reduced, but the A/S stays the same, which means they can start the share dumping all over again. It's a process that, once started, few companies will move away from.
Their best chance is to stop diluting, release some financials, and show some revenue. The PPS doesn't have to be $1.00 or more to be on the OTCBB. They just have to start reporting. Start there, and later down the road move to up to the Nasdaq. If they are thinking about making a jump to Nasdaq or AMEX or whatever, they will not last, and it will hurt the shareholders once again.