ION has 45 days to come up with a plan to get the market cap back up to 50 million within the next 18 months, or face delisting. Manipulation of the stock price using a reverse split will not help this time.
http://www.prnewswire.com/news-releases/ion-receives-continued-listing-standards-notice-from-the-new-york-stock-exchange-300491811.html
In case you're curious - Brian Hanson's salary in 2016 - $1,813,667, up from $1.4 million in 2015.
http://www1.salary.com/R-Brian-Hanson-Salary-Bonus-Stock-Options-for-ION-GEOPHYSICAL-CORP.html
In fact to summarize:
CEO - $1.8 million
2 EVPs - $1.5 million combined
CFO - $1 million
Lawyer - $871,000