Ann: FYI & ALCOA SIGN BINDING JV TERM SHEET FOR FYI HPA PROJECT, page-576

I am not sure why SOI is so important. If a company with 2 billion shares worth half a cent each does a 1 for 10 share reconstruction they would have 200 million shares worth 5 cents each. Looks and sounds better but no change in value really for each individual holder.
The SOI only becomes a problem if the company issues new shares to instos and sophs and not to individual holders or if there is a rights issue and you haven't got the money to take up your entitlement. Thats when your proportion of ownership falls. I dont see much difference whether there is 200 million or 2 billion shares on issue as long as I retain my tiny percentage interest in the company.