Yep, your math is correct and if the share price was $.0002 the new price would be $.03
IMO, and I don't know ML, never spoke to him and no inside info, but I think he would like to get the starting price up higher with a larger split. At least above $.05 and preferably $.10. But to do so, the float would be so small, the stock wouldn't trade.
Then he would have to dilute to get some liquidity in the stock.
The 150:1 number sounds likely with a likely a/s of 200MM.
JMO
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