Hi Zach, here would be my quick response:
When involved in micro-caps, one is nearly doing private equity investing which requires a performance goal of 20% at least. Scenario 1 being the reverse split, there is your 20% discount baked in as a required return.
Scenario 2 being the split does not occur, what is the value of the company on an earnings basis? Consensus is GLGI is cheap on that basis, but if the split did not go through was it because of lack of financing? And if so, that shows a weakness in company fundamentals. You would also be owning a company that is tied to its management from personal financing and related transactions, a situation that many funds would discount the shares heavily for. It requires more attention into a small investment than many would normally undertake.
You will find those here have analyzed the various outcomes and have placed their bets while trying to communicate the best they could with management. Personally handicapping the outcomes with the data available to oneself (and the resultant moves up or down) is key I feel.
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