No go, UNLESS, there's some big negative news, IMHO. But if there is, I'd say it's as likely to fall below 1 cent as stop at 5, depending on the news.
Of course if someone who holds a decent (50k or more shares) amount decides they've had enough, it could also fall sharply. I think large holders would buy to stop a precipitous fall, but who knows. Without such support in the face of a large sell, caution could be right.
IMHO it's going to be at least 6 months, and more likely a year before there's enough good information available for large investors to come back in and move the PPS upward, and a lot of things that could go wrong over that period, not to mention significant additional funds needed to limp along, let alone expand. I'm not convinced the current line of credit will do that.
'Tis better to be silent and be thought a fool, than to speak and remove all doubt. - Abraham Lincoln