RE:Have we found the bottom yet? In situations like this, stocks tend to find a bottom at book value. That is 0.50/share and is technically where it is directed. You typically see a demand support at even numbers at a $1 as people average down at those levels.
Here, you have also seen more than 60% of shorts covering at these levels as most don't want to remain short on a penny stock. Now that most of that short covering demand has been satiated, it can resume the downward slide.
Ive seen this play out many times before. And you need to see the desperation selling at an RSI of 10-15 to buy the extreme dip.
Previous support of $1, is now resistance... so if you STILL are holding this, you may get some more opportunities to minimize the damage.