This is a work of speculative imagination purely for...

This is a work of speculative imagination purely for entertainment purposes, but here's my prediction for the first 60 minutes after the announcement drops if it happens during trading hours....

1. We get 30 minutes to read and digest the announcement. During this time the stock will be in pre-open and orders can be placed.
2. At 30 minutes the orders are resolved by auction. My prediction for the auction price is around 18c.
3. Over the following 10 minutes sellers who missed the auction will pile in with increasing determination. At 40 minutes the price will be around 7c.
4. The next 10 minutes will see opportunistic traders who started buying below 10c begin to predominate. At 50 minutes the price will hit 10.5c.
5. Now profit-takers will pile in to offload and avoid getting trapped in their positions. By 60 minutes the price will be back down around the 7c mark.
6. The next week or two will see the price stabilise at between 10c and 12c.

If the announcement drops after the end of trade that puts it outside my direct experience, so I don't really know what to expect.

Feel free to play this game with your own stories. I'd be interested on how other people see it. With realistic expectations, it is possible to trade the reopening in a situation like this to rescue your original investment and either exit your position or increase it at a lower cost without tipping in more cash. But you have to either be totally detached from your emotions while you're doing it.