I wouldn't bet the PPS will go much higher than 3 during the offering, or similarly much lower. The natural forces from the offering are going to tend to influence it right at about the offering price. I did similar, got out at .038 and will see if the PPS goes down further, or if I will just buy back into the offering at ~+20% shares + warrants. It being at 3 cents is not an indicator of whether it's doing well or not, it's just a reflection of the offering price IMO.