Theoretically, a reverse split is meaningless.  However, in most cases, it is a prelude to further dilution.  That is a loss in the value of your investment.

Tombstone Exploration was a recent exception.  Their reverse split was announced at about the same time as they announced a partnership.  I think that stock too reopened at around $2.50 per share and is hovering around that price now even as they have become a producer.

So, if we are to have a partner, this news could be helpful for shareholders.  Without news of a partnership soon, the company's overall value will continue to tumble (perhaps at an accelerated rate).

Good luck to the longs,

VP