I recall one a couple years ago that did a 1:10 and it ended up moving from .05 to over $5. When a company uses them correctly, they can pan out very well. Most companies are just doing them though to restart dilution. These guys haven't issued a single share since coming on board. Their last 2016 filing was the same O/S as it is today. That is a huge confidence booster if you ask me.
True, I have seen plenty of good runs following small reverse splits if the news coming after the RS is good. We needs filings, then business updates and other stuff and this could be off to the races.