rights issue

I have learnt at a substantial cost in the last few years that when a company is in trouble dont put anymore money into it. If I subscribe to this rights issue I have not learnt from my past mistakes (MFS, NFL, AAE to name a few)and considering I have lost close to a Million Dollars in the last two years by averaging down in companies that were in trouble on the hope they will survive and I would make a killing, they eventually did go under anyway. As soon as something is wrong I now keep or sell but certainly do not throw good money after bad. AXM is no different. Sure they will be out of debt but there are still many concerns. I figure that if this company survives and goes onto better things, I will eventually get my money back anyway without taking any further risk of loss of funds. I am going to keep my rights until the last day because you never know they just might make a very positive announcement and then I will subscribe. Happy to forgo my rights if doesn't feel right. Also the share price may go down to around 3 cents or lower anyway if no positive announcements forthcoming so that is another consideration I need to give. Could get shares directly at 25% discount to rights price of 4 cents.