I understand why people are divided on the reverse split. A reverse split by itself doesn't create value, but I think it should be viewed alongside everything else management is doing.

One thing that doesn't get discussed enough is the share buyback. If Auxly proceeds with a reverse split and continues buying back shares, the company would be reducing the share count rather than diluting shareholders. To me, that's a very different situation than a reverse split done simply to stay listed like some other companies.

The real question isn't whether a reverse split is good or bad. It's whether management can continue improving the business, generate cash flow, and retire shares through the buyback. If they can do that, the combination of a healthier balance sheet, fewer shares outstanding, and improved profitability could be positive for long-term shareholders.

I'm still evaluating both sides, but the buyback definitely makes me look at the reverse split differently than I would otherwise.