Uh ... yes, it can go lower. The company has filed for a 1:5500 reverse split. After that, anything below 0.55 will be lower than it is now.
I guess people just need to learn this the hard way, like I did with EVFN. Bought 10M at 0.0001 thinking, "Hey, it can't go any lower." 4 months later, they did a 1:600 reverse split, it was back to 0.0001 within a month, and now my $1000 is $16.67.
NEVER think that it can't go lower. Let's hope that's not the case here.