We've waited before and the stock has crashed bigger. Soros and the other big holders waited and never sold 1 share when it crashed 90% from their purchase price down to $0.2 last year. Sure in retrospect its easy to think one should have sold in Jan 2010 and bought back in now. But trying to time the market is a suckers game.

It seems the risks are pretty clearly laid out by now. The stock is diluted to hell, phosphate prices suffer long term, and production is infinately delayed. Or financing is reasonable, phosphate & agriculture rally big, and other big players become interested and start a bidding war.