I definitely think it is going lower than .05 but maybe not before another pump from ASCO like you said. Think about it...they have like 5 billion shares left to dilute....remember the day they did that last year? 1 billion shares in 1 day diluted? yuck.
i think this stock is a ride that you don't want to take until they fix the motor with a reverse split. sadly, i believe they have dilution lined up for after the reverse split as well.