It would appear that way. However, IF the reverse split does not change the A/S, the O/S will remain maxed out as it is now, and Veve won't be able to dilute anymore than he can now. The big question is whether the A/S is changing during this process or not. We'll have to wait and see before we can really answer that question. It may not change anything other than provide more room for the stock to drop unless there is some miracle news about CM.
So, worst case (seems likely) is we're all getting diluted into oblivion with VMGI.
Best case is no dilution if the A/S doesn't change, and since the float will be dramatically smaller, the thing might actually run with real news.
We'll see...
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