No reason to dump them yet. I probably wouldn't hold them longterm, but in my opinion there will certainly be a run into the pennies near-term.
Not all brokers have switched the symbol over yet (TD Ameritrade being one of them), so a lot of folks aren't able to buy yet. Once this is corrected by tomorrow or Friday, I think you'll see a VERY nice pop.
No need to worry about the 100B A/S for awhile. This is the main reason I wouldn't hold long-term, as I said, but management isn't going to start diluting anytime soon - not at these subpenny levels.
IMO, it'll be months before that starts to kick in - IF it ever does. Keep in mind that many companies institute huge A/S numbers to stave off hostile takeover bids.