Sure, I just wouldn't "overdo" this investment/trade. If it weren't for the statement they made, I would actually buy more at .016 and with three hands even lower, but that just scares the living tar out of me. Remember, when something goes to zero, it doesn't matter how great one might have traded it (and I have done pretty damned good (some lucky timing) with this stock considering I started buying at around a quarter). All that matters at that point is how much money one has invested, one's cost basis then means absolutely nothing for the bottom line, all is lost.
Now, another investor friend did tell me that he thinks there is no way that the CEO can pull off actually screwing the shareholders, as a majority shareholder himself (or representing the major shareholder), that he has to represent the shareholders best interest, but, from the statement, either he doesn't know that IF happens to be true, he doesn't care, or otherwise.
Another perspective is reputation - would Abromovitch want to be know as the one who looked after himself and screwed the shareholders, even if it is his "legal right", I just don't know. Personally, if it were me in that position, not sure what I would do, but I would give the common shareholders something, like a penny, but for most shareholders unfortunately that would be a huge loss, and only people who seriously averaged down or started buying at the bottom would walk away only partially scathed. All theory of course.
