I know I wasn't asked but I will chime in with an opinion anyways.
It seems to me you have looked things over and like what you see but are leery of the risk. YEs, it is a risky stock, and I don't blame you for doing as much DD as possible.
However, asking Veno his opinion is not (in my opinion) Due Diligence. It is searching for reassurance for something you want to do but are leery of.
We all have things we like about the stock or we wouldn't be here on this board, or lurking.
It IS a small company, it IS a penny stock, and it IS a risk. However, it is a penny stock which keeps its books. It is a small company but it does have signed contracts with some serious companies. It HAS not shown a profit to date, but it IS looking at serious revenue in the future.
In my opinion (and thats all it is) I think this stock is poised for growth and profitability. I think the risk is worth the reward, and the ration is good for me. You have to ask yourself if its good for you.
Yes you could possibly lose everything you have in this stock (or any other if you think about it). However the potential for gains on your return in this position is very high, and NOT something you are going to find in a "safe" stock.
You could wait for the launch to happen, for the revenues to come in and for this stock to be much safer than it is, but do you seriously think you are going to be able to buy shares then for $0.035? I seriously doubt you will be able to.
Placing your buy now is a risk, but then again so is holding until things become established. ITs gut check time, and you should seriously look into yourself on what your willing to risk and how. Only after you have decided what you are comfortable with should you decide if you want to get in or not.
good luck to you
*tips hat*