RE:New management My personal average price is irrelevant. Losing another penny or two is a small additional percentage loss for me and most of us here so there's no point bailing. But, my point is that for a new investor, losing a another penny or two is losing the whole investment in a much smaller period of time with much more information in hand.
You can talk old, new management as much as you want. The reality for the new management is that they have $0 in the bank to pay any bills. They are in the hole financially, and when the new money comes in, the new money can take over the company at the first glitch and you can kiss your 1 TCF in the ground, and your investment, goodbye. It will certainly be a steal for the new creditors for who the 1 TCF in the ground matters.
The mentality of this bagholder is that he recognizes that this is a complete crapshoot against all odds. The mentality of this bagholder is that regardless of how much I can average down, I recognize that this is one bad investment and that any money for averaging down would be throwing good money after bad. The market is with me because with a 1.5 cent bid now, it is quite clear that NOBODY wants this 1 TCF in the ground based on the current business plan for 3 cents a share, for 2.5 cents a share, nor for 2 cents a share.
You can toot how much of a steal this is as much as you want, but buyers are not sharing your sentiment. Whether you admit it to yourself or not, as a shareholder, you are a bagholder as well. The only difference is that you don't recognize the dire reality just yet.