Question of the day: If this company has even a 50% chance of success/survival why wouldn't anyone (especially around Tulsa- and there is a lot of money in Tulsa) remotely familiar with the operation mortgage the house to buy every available share of stock? Particularly the employees. The risk/reward at this level is incredible. And to echo a comment already made: who would sell at this level?
If they reverse split the stock and not much happens progresswise, there is just more room for the stock to depreciate. They need to do what they say and the stock price will take care of itself. I question the motive.