Per the PR, "The reverse stock split will reduce pro rata the number of shares of issued and outstanding common stock from approximately 2.360 billion pre-split to approximately 2.9 million post-split, immediately followed by an increase in the authorized common shares to 100 million."
What that basically says is they're going to raise more money and screw over current stock holders by increasing the authorized shares to 100million, from 2.9 million.
That's both a good and bad thing for the company. Currently, they're hanging by a thread, so keeping the company alive is a good thing, however, they're pretty much diluting the **** out of their current stock if they raise another round.
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