As a shareholder, I received my proxy voting materials. There are line items to approve the executive compensation as well as a reverse stock split of either 10 for 1 or 40 for 1. I did not vote in the way the board recommended
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This bit is particularly crazy:
the reverse stock split will decrease the number of outstanding shares of our common stock by a ratio in the range of 1-for-10 to 1-for-40 but would not effect a decrease to the number of shares of common stock that the Company will be authorized to issue
1-10 is a desperation move. 1-40 means there is no hope.