he has to fall on his sword, move onto another venture and learn from this.
a very painful lesson for him but the company should be bigger than any individual and he is simply carrying too much baggage now.
i think there could be further downside, 20cps is not impossible imho - that would still be a market cap of $130 million - but long term i do expect a phoenix to rise out of the ashes here.
i wouldnt be buying yet but at some point in the future i do think this will represent a compelling investment but there may have to be even more capital raisings & then a share consolidation before such time.
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