Not true, my biggest gainer ever was one that reverse split, INTV. I had bought .003-.0011 pre split and had an average of .09 post split and it ran to $6.00+. Many others like that too. Pretty much depends on whether or not it's a scam which this seems to be very real here.
Somebody has been going around misinforming people saying that all RS are all bad! That is just absolutely not true! Case in point this ticker. A debt free company with revenue. If they had debt it would be a bad thing because more than likely they are doing the RS to dilute. This can only mean they are aiming for a higher cause. More then likely to get uplisted on one of the big boards like NASDAQ.
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