You are correct. I should have added that when a legitimate company does want to uplist, and does a reverse split to do so, it's usually at a much lower ratio because the share price had previously climbed. If the company is legitimate and has no toxic financing, it's probably widely followed by analysts, and held by more traditional investors and funds, who look long term, and would buy on any post split dips.
Another "good" r/s scenario is when a legitimate company merges into a shell that trades at a very low price, but those are rare.
I wish I could help you on the records of "good" companies that do reverse splits. But I'm your typical pinksheet/OTCBB trader, in and out of things without caring much who they are or what they do. I play based on share structure and trading activity, and sometimes momentum, concentrating on stocks trading under .007 or so. I spend very little time looking at companies trading higher than that.
My posts are my opinion. Try not to be influenced by anything you read on any message board website unless you can confirm it.
