90% of all reverse splits are done by 1. Companies below a penny fighting for more time 2. Companies about to lose their listing because of the falling price alone.
I did see another recent one that I can't remember, but on the day of the RS it opened at about $5, went to $1 intraday and closed at $4. Two weeks later it was at $8.00.
CEO Short recently went to the Markum small cap conference. Those guys caould not buy RIBT at these prices. Most funds don't mess with .057 stocks. But I am shure he alerted them to the coming RS and I hope some may cushion and selling at the stock goes up like MSTR