The problem with a higher ratio than 1 for 25... is lack of liquidity...
At 6.8BB fully diluted, that would leave 272MM fully diluted shares after a 1 for 25 split. 163MM would be in the float, with the other 109MM "reserved" for Liberty.
At 6.8BB fully diluted, that would leave 136MM fully diluted shares after a 1 for 50 split. 82MM would be in the float, with the other 54MM "reserved" for Liberty. With such a small float, that would cause liquidity issues in trading, IMHO. Volume would dry up significantly. Furthermore, if the MC ever rebounded up to over $5BB -- then the pps would shoot up to over $44, causing other issues.
IMHO, a 1 for 25 split would be adequate. My $3.50 statement was only based on the CURRENT MC, which I cannot see it staying at this level long -- if this company is truly rebounding now. I see no reason why it should remain sub-$1BB. Even just a $2BB MC after a 1 for 25 split would take the pps up over $7.
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