When I indulge in penny stocks I always go to message boards first to see more from the vantage point of disgruntled shareholders. All the bitching will show up on the boards. I do this BEFORE taking a position.
You didn't do it. I know this because several of us were doing our best for most of this year to warn others in an effort to save them heartache such as you're experiencing now. And here you are, stunned.
Something I've been posting for about a year is the wisdom of getting out now, whenever now may be for the individual shareholder. Dead companies are the perfect locale for busted dreams and dashed hopes. I know, why sell now when it's worthless?
Your feelings are not worthless. Your sense of freedom to invest freely without having to be constantly reminded that you've lost money here---isn't that worth something? Your self-respect---what's that worth?
I hold it is a big mistake to view stock investing solely from the dollars-in, dollars-out perspective. For twenty-two years I've made my living in the stock market. I win, I lose---but above all---I ACCEPT the outcomes. Whether I explain things to myself in terms of profit/loss or shady dealings on the part of management---what difference does it make when I'm losing money and need to get the crap out of my face? And when the stock pick turns out to have been a real stinker---I may have to get my face out of the crap!
I got out of FDMF many months ago. I lost something like $300. I'm in other pennies and again, not all are winners. But I knew that going in.
You won't find me complaining on a message board because nobody needs to know how I feel about myself for having invested unwisely. And there are times when the company is fraudulent but even in those instances---what difference does it make who is responsible for my losses? After all, nobody is going to pay my bills for me out of sympathy. And I don't want or need pity.
I say this in a well intentioned way, not to demean you for making the same mistake I made before you came along:
Get out of this now. It is a distraction. It brings you down. So you made a mistake, big deal! You didn't spend much, I'm assuming. Walk away. Get rid of the bad mark on your brokerage statement. It does not serve you in any way possible. And surely you know that dead companies do not suddenly rise up and make investors rich. Staying here to commiserate with others will not restore your lost self respect and it certainly won't make you richer.
Learn from the mistake and check for public opinion next time---before plunking your cash down.
