"The only thing that makes sense to me is a reverse split, nobody is going to invest in LBSR until they show they can keep the doors open."

How would that make sense?  By itself, a reverse split (RS) would not pay for drilling, and we are still a couple of billion shares removed from reaching the limit of authorized shares.  Besides, a RS cannot be done for free.  Someone will have to pay the associated costs, after calling a special election (which will also cost money).  

By the way, are not "the doors open" now anyway?