Here are my thoughts. Reverse split is normally not good. Good news is we have 30 million shares outstanding now. If George has any real news the stock will easily move to the upside. If George continues to dilute we are screwed. End of story.
Someone else posted that the reverse split was earlier than expected. One of the first things I thought when I saw it. So either the financier required the reverse split which is probably the case. Or he realizes the stock will not move when he releases the big news and wanted to take care of the share structure in advance.