If there is dillution then i wouldnt be surprised if that happens, however, I think if they dilute 50M to bring the OS to about 200M, that would be 100M market cap at .50 or 200M market cap at 1, it won't kill the stock longterm but it'll definitely bring it down.
Second, in a few weeks to a month when the test results are final this will be a multi dollar stock. Even the people who got in above $3 will be happy. By all means get what you can if it goes lower, but i don't think you will ser $0.50 ever again.