Psychologically it's always nice to average down, but in fact it...

Psychologically it's always nice to average down, but in fact it makes no difference to the outcome on your existing investment whether you buy more or not - that money is a sunk cost, whatever you do about the rights, and if you don't take up the rights someone else will, so COK will get its $125M either way. Treat the rights offer as a new investment opportunity and if you think 0.2c is cheap, pile into them; if not, walk away!
Oh, and never take my investment advice.