trading activity... says it all. Blame bad TSV index? or the oil space in general. There are micro-cap stocks rising in this market. Whats the matter with this picture? lots imho. A reverse split of 5:1 would hurt the share price in the short term, and after the consolidation, but in a better market - the price could cover.
For those of you who have not experienced a reverse spilt. This is an example of how it typically runs. Of course it depends on the markets, management, resource, etc.
I.E. 5:1 reverse split, PTA @ 580,000,000 shares outstanding at 0.20 SP = 116,000,000 shares outstanding, SP now at 1.00, market cap stays the same. PTA will have cash on-hand, thus may not nessesary drop further after the consolidation. Cheers, my 2 cents.