Ambac Financial Group Inc (AMBC)

[brony]

OK...any info will help(rookie here)So in my position I held on to my .20 cent stock thinking it would rebound (uggh). Anyways main concern is that I heard that when they cancel the stock they can re issue it like in a reorganization..since they might and prob will get a merger?
so....
A.Do I try to trade it for a couple bucks while I can tomorrow?
B. Or do I leave it alone and cross my fingers hoping to get it re issued and is that even possible ?out of 5000 shares what do I get out of it? reverse-slit ?
Questions from a rookie... thanks !