My interpretation of what he is saying is that if you bought it already for a high price of say $10.00, $15.00 a share etc. and you sell it now for 11 cents you will not end up with much money as your selling cost will eat up most of your return therefore hold it until the end. He said to sell it if it goes down to 1 cent so that you can use it as a tax loss. If you hold it in an RRSP you can't write it off anyway.
So there is little risk now if you already own it. He said he wouldn't buy it at this point however as there is little upside. That there will be value in Oilexco in my opinion to those of us who bought it at a higher price is wishful thinking. Only the future can tell if there is any value left.
Best Wishes; Scott
