Personally, I think you did the right thing. If not you still own shares just not as many. Bulls make money, bears make money...pigs get slaughtered. Probabilities says this stock goes lower UNLESS a 3G license is produced. Merritt has less than three more months. I say less because as each month goes by and no license is signed, the stock will drift lower along the way imo.
This only really matters for the traders whether frequent or infrequent. Longer term I believe IDCC prevails and we go much higher.