In 2015 I voted against FCEL's R/S.And dumped when the vote passed. 1 for 12 R/S took its pps from .80 to $9.85. 4 years later, this week, FCEL has collapsed to 28 cents. That equates to 2.3 cents in pre R/S figures. Was the R/S a complete failure from FCEL's perspective? No. Because treacherous, unprofitable companies like FCEL eliminate hundreds of millions of shares with the R/S and then get to work. In the last 4 years, FCEL sold hundreds of millions more shares diluting the company once again all the way down to today's pps. Mgmt has cash on hand, they secured their employment, salaries, and annual bonuses, all at the expense of shareholders. If you care for another example take a look at ISOL. I dumped that too before their R/S. Their R/S took it from 30 cents to $3 last year and is trading this week at 1.50 after crashing all the way to 1.03 months ago. ISOL was able to go from 10 cents all the way to $2 without a R/S. Couldn't they have let things be and pulled off a rebound back above $1 with sheer hard work and by promoting their product and service? Maybe ISOL knows it has nothing concrete to offer investors and so chose to set aside their conscience and laugh themselves all the way to the bank with a R/S and more share dilution. That is what I believe to be true when it involves R/Ss and fundamentally broken-down penny stock companies. And for 20 years I have shared how I think that the SEC should regulate penny stock companies by requesting more commitment from them in terms of proving they have some plan in place to help sustain their new pps after a R/S. But they don't. And so I dump before a R/S and am vindicated as I watch from the sidelines.