RE:RE:RE:RE:VLNS has a long histry of restructuringAs companies start to struggle (and often when the share price is high and the cash is low) they will raise by issuing shares. For penny stocks, the companies will raise until they cannot raise anymore. They often go under and the ticker remains alive with a massive outstanding share count but will drift all the way down to trips.
There are quite a few people who look for the cleanest of these forgotten tickers, apply for custodianship, catch up the filings, and then try to sell the shell to a company that wants to go public in an easier, cheaper way than traditiona IPO. Even this reverse merger stage often leads to issuance of more stock.
Once the company is in, there is often a massive reverse split as billion share floats are not all that attractive to investors. Seems like something like this might have happened a few times for this stock, but I don't think in the histroy of RMs/RTOs the same dam CEO held the reigns through multiple takeovers, sales, RMs, etc. That is laughable.