Yes the shares sold today were from the pre 2000-1 split which were valuated at $0.20 after the split and have been brought down to $0.05 through trades. In essence someone took a 75% hit on it if they were bought at 0.0001 if higher then even bigger loss. So at the very least the DTC has confirmed DTC Eligibility is being worked on for the new shares.
Obvious question is what will be the new A/S the 3.5 million current common shares is just a # to exchange for the new issue shares don't forget there is a load of prefered out there that were not affected by the split (# anyone). Could be just another rinse and repeat. The reason they are keeping this UTD is that is stipulated by the DTC to get off the Chill Status.
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