Neo,

Look at this way.. Take a pie, cut it in half, now you have 2 sides of the pie. (the pie does not change)

Take those 2 sides, and cut them in half, now you have 4 slices. ( the pie does not change, just more slices )

Take those 4 slices of the pie and cut them in half. now you have 8 slices of the pie, ( the pie does not change, just more slices ).

Take those 8 slices and cut them in half, and you have 16 slices of the pie, ( the pie does not change )

So lets say that TMM has a reverse stock split and starts out with 16 slices of a pie. Lets call this pie, common share pie.

TMM calls for a 2 for 1 reverse stock split, now you have 8 slices of the common share pie. (the pie does not change - but the slices are much larger )

A reverse stock split does nothing to the VALUE of the pie, just increases the stock price, with less share in your portfolio.

Hope that helps