You know he's wrong. Traders are already bidding the teens. The next round of converted shares that hits the market takes the stock price there.
IMO there's no need to acquire at higher prices since there's no-one to lay the risk off to. The lower the share price goes, the lower the demand from potential buyers. I figure the bottom is going to be around $0.0005 (and I've watched since approximately $0.015 in November 2011).