"almost always lose value for the shareholders."

Yes, far more failures than successes but ther's a reason for that. Many reverse splits were done by companies that were failing and an attempt to stay on the NASDAQ. The reverse split did nothing to solve the existing problems and those problems became worse because the "shorts" went after the company and hastened the fall.

Reverse splits done under the proper circumstanses and by a company with good earnings (as we should be) work very well by getting the company on the NASDAQ where institutional buyers can now participate (most? institutional buyer cannot buy penny stocks).

I have no problem with a reverse split if we are in a solid position to do so. It could be a big help.