you're right tobyIt IS stupid to overanalyse a penny stock at these levels. To repeat your good points, if this company runs out of money (a distinct possibility) it wont matter what price you paid for the stock. Of course 3 cents at these levels means you can buy 25% more shares. My real point was that the earnings announcements will likely bring more bad news, and long term holds( like myself) should not be put off.