dallo...you are right on as to SG's stated "no reverse split", but he did qualify it by stating "in 2008"....so it is not completely ruled out for 2009, etc.
SG has also said that he preferred "share buyback" to RS, but I would temper any conclusions as premature until we see how the O/S debt is taken care of....if debt is eliminated, the "profitable" company can buy back shares...