What Bear said, and since I already typed this....

If you have 3000 shares and the stock was at $1.00 today, your shares are worth $3,000.

If we did a reverse 1:3, you would have 1000 shares and the stock would be at $3.00 and your shares would be worth $3,000.

The problem with reverse splits is they can make investors cranky and the stock sometimes slips before and/or after.  That's why I think it would be very helpful to pair it with good news.  Or perhaps just getting on the Nasdaq would be good news enough.