I tend to agree with your on what will happen to the share price. However the OTC doesn't do that, the MM will see the FINRA note on 2 for 1 stock split and adjust their prices, orders, etc. Joe needs to be in contact with FINRA to get that updated to a dividend and that it is not 2 for 1.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.