Just my thoughts, but anything more than $5,000 into a penny stock is beyond risky. If Gold really lost $40 G's, I feel for him, cause that would suck.
It is not about where you got in at or how much it is up or down from your entry point (except for tax considerations).
It is about what you think it is going to do now - go back up, or down lower. If you think there is a good chance of it going lower why hold - sell now and buy back lower. If you think there is a better chance of it going up from here - hold and/or buy more.