With respect to share price: Personally I would have R/S the stock at $0.005. It would have been smaller and much less damaging than taking the share price to $0.0001/2/3 range with billions O/S and A/S.
That's a good way to build investor confidence while trying to rebuild the company (he said sarcastically.) I don't know that that would have been less damaging; what would YOU have been saying about that? Be honest.