it's essentially still a shell, but it is tangible. It's not a "scam" , and they appear to have a decent gameplan, but that doesn't mean it won't get screwed up. Most of us got hosed when it dropped from a range of .018-.035 all the way down here. Partly because Scottrade put a "No Buy" order on the stock, and a lack of news.
I'd say if you bought in at this price, you probably are going to be good.IMO. That said if your only shooting for home runs in penny stocks you'll lose more than you win.