Fair Price

I'm wondering what a fair price is on this stock ? I mean it's safe to say that there isn't going to be a dividend paid next year? And that it's probably not going to make any money over the next 12 months. Even a possibility of capital raising.

But coming off $2 and then heading to $1 and now 29 cents. We know that the market usually gets it wrong. So considering the current circumstances and the potential for a take over. What is the fair value ?

50 cents ?
70 cents ?
$1 ?