It is standard for companies to approve reverse splits. This does not mean they intend to proceed with it. I thought the same thing. With such a small float it would be pointless for this company to reverse split.
Someone is definately accumulating a lot of shares as of late. If there is something cooking why are insiders selling any. Gotta say I really can't figure this one out but I'll hang in there for a while to see what comes of it. For 2 cents, what the heck.