Don't get me wrong - you can still make money, even on a scam. This stock may go up 50% tomorrow, and then you'll kick yourself for not buying. Or it might keep sliding as selling continues.
But no matter what you do, the odds are stacked heavily against you. The insiders and promoters know when the next move is coming (a PR, conversion of a note, or the start of a mo-mo campaign, etc.). A common investor has to outguess the insiders, and it is not an even playing field.
Plus....those that are urging you to buy, are most likely the same ones selling you shares. Trust no one. Use your common sense.
One rule to follow.....if a company does not report its financials to a real regulatory agency (i.e. the SEC), it is more than likely a scam.