And note the language: "Not more than 1 for 10."

Technically, this still allows less than 1 for 10. So it could turn into a 1 for 20, cutting the number of shares outstanding to about 23m, and putting the per share price (disregarding other changes) to about $2.80 at today's closing price.

Although to be honest, I don't think that would be the intent, unless they are trying to disguise something by using 1:10 as examples in the press release.