Wrong - price per share goes down... Twice the amount of shares!
You get double shares but the pps is cut in half! Thought process is that the pps will go back up close to what it was and you make more money. The actual value of your investment will not change.
100K shares at .01 is $1000 200K shares after split wil be at .005 is worth $1000
However if it approached .008 the value now is $1600. This $1600 is higher than your $1000 value prior to the split when the pps was higher at .01.