Sorry for your losses. One of Livermore recommendation was to cut losses short, although he went broke.I started buying at less half your cost, so probably my pain is not as deep as your yours. In penny stocks I never invest more than 1000 dollars,regardless of positive opinions. So far have invested 500 dollars.
Bear in mind that company is buying land and have received a grant. Mgt has the tools to work and if management is honest and efficient the odds of price going lower should be less than going higher. I may be wrong.