I said it before, its binary.This share price reflects a far greater probability that the goose is cooked than that it survives and thrives. I think it will survive and so like the odds this current share price represents.If i'm wrong, so be it.
If the company is going to go bankrupt, then I wouldn't invest at all. If on the other hand, you believe that they will still be in business, then I would assume we are close to the low. Not sure how the market will react to yet another delay, but off the top of my head, if you can get $2.6 or under, you should be in good shape.