all time lows - where to from here?

Today's closing price equals the all-time lows for VIR and it looks to be trending still lower; a result of a relatively poor operational update on 20/04, potential cap raising, divi suspension and a general lack of interest in renewal energy (low oil prices, low demand, falling energy prices).

On the charts, virtually every indicator I use suggests that there will be further falls before a bounce (NB HOWEVER: recent falls have been on relatively low volume and the majority of shares not in circulation):

The MA average (weeklies and monthlies) are still in a downtrend, Neg DI is still above the Pos DI (heading down)+ Ave DI pointing down, daily/weekly RSI + stochs still not at oversold levels (although monthlies suggest some kind of bottom is approaching).

From a fundamentals perspective, the debt leverage is far too high as well; current liabilities are double current assets in comparison to the rest of the alternative energy/utilities industry (i.e. BBW which is virtually 1:1 assets:liabilities).

A big positive however is that management appears to be planning for the worst case scenario (no improvement to cap markets before 2010) and have taken steps to reduce its debt (need to repay 61m corp debt facility by July 2010 and unlikely to be able to roll it over "given current market conditions" on pg2 of the announcement)- by suspending div payments for this financial year, the company saves between 12-20m (187m shares and assuming div payments = 5c or so).

An update on the progress/conditions of the t/o talks and and announcement re: cap raising/asset sales are both due in the near future.

In all honesty, I can't imagine that any potential t/o offer (to have any chance of success) would be less than the current SP unless the co is in even more dire financial trouble than the extent to which the market has been informed.

So, going back to the thread title: where to from here?