RE:I applaud your wisdom, but...I understand your frustration. $20K is a lot to gamble on one penny stock. I don't recommend averaging down but sometimes it works for me. I don't blame anybody if i loose. Even if i find the management are crooks. Ultimately it was bad jugment on my part.
I have a friend who keep on loosing money with penny stocks.To his defence, he has two stores and not much time for DD. I try to teach him not to buy all at once. He has the FOMO and is too impulsive. He buys and the next day he tells me. But once he bought he just won't sell even i tell him it is a scam.
Many people are like that. Instead of selling for a small loss and admit a mistake, they will sink with the ship. It is all about psychology. I have been there i know.
Bon courage!