You and I are almost the same as far as the strategy given these circumstances!!
I too think that here in penny stocks it's pretty much a gamble 95% of the time. Most of the "news" we get on these subbies are FAKE, UN AUDITED AND LIES.
So, If you do not sell you don't lose. I have not sold any shares yet since this came out and frankly I kinda of knew this guy Rik is a crook like through his behavior and responses. Extremely glad he is caught and maybe just maybe he gets replaced. If so this would be the biggest gift to us shareholders going forward....Frankly I am betting on that.
The thing that worries me most is if he gets to stay!!
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I've been in-this-position before. Sometimes I get-out WHOLE...
and even make a profit, and sometimes I "go down with the ship."
I play A LOT of subbies. If things go SOUTH, I never sell my shares for virtually nothing.
I've doubled-down on this one cutting my AVG (0020) in HALF (0011)!
It is a fool-hearty trading tactic but it sometimes works down here on the OTC.
I figure "What more do I have to lose?" When I see my "position" for sale for 0002 when I paid 0020 for them, the gambler in me can't resist. I'd give you "chapter and verse" (examples) but we're not allowed to post symbols of other stocks, but believe me, there are many.
GLTA!
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NPHC