This had better work out. My own opinion is that they really screwed this up badly. Judging by todays reaction so far, the market sees it as a crappy, desperate move to stay on the NASDAQ.
Stocks that do a reverse split usually end up selling for the same price they did before the split. However, it's usually due to the fact that companies doing a reverse split are going down the tubes anyways. That's not the case here with ABTL, but the market doesn't know that.
We'll see what happens, but I think Coats and the BOD just killed ABTL. I really hope I'm wrong.
Incidentally, when did shareholders vote to do this split?
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