I think a 1 for 10 reverse split would be fair. That would bring the share count into a more respectable area for cosmetic purposes.
So think of this stock as being an 80-cent penny stock, not just an eight-cent penny stock. That's still a long way to fall.
The share count is a lot like gravity. It's like adding mass to an already massive object. The greater the mass, the greater its gravitational pull. The stocks behave much like physics in that respect. This one seems to constantly be bombarded with massive celestial bodies. It's like Jupiter out there, a magnet for debris. When will the dilution end?
On a positive note, I don't think all the fears of a double-dip recession are warranted. I think this only because Warren Buffett disagrees with consensus opinion. He says the recovery is real, and he is certain there will be no double dip. I can easily believe the bad press, but I choose to go with Warren. It does not pay to bet against Buffett. Housing is not the engine is he is looking at, either. That one is "at least" away to recovery.
So that's a double whammy. If you're going to be in a recovery, I think there are a lot of good battered stocks that have the brand recognition, the reputable stock exchanges, proven models, and better value out there at this time.
Yes, 1999 would be a great year to buy the Spickle. But this is 2010, still trying to recover from the decadent 90's. Sooo, the moral of this story is that Spickle needs to do a 10 for 1 reverse split, and it might be a good buy at 30 cents. That is what I think at this time.