They are in a growing industry (VOIP) with possibly growing revenue streams. They indicated on the last conference call the expectation of being cash flow break-even this quarter. Reports from the recent shareholder meeting are that nothing was said to contradict the information given in the November conference call.
FULL DISCLOSURE: I am a shareholder in this company.
There was a management change in July wherein the previous CEO returned to that role. He has shown the ability in the past to build a company. There is a belief on the street that he is responsible for the 4-year slide but there is a counter-argument to be made in his understanding of the industry, his products, the competition and his employees. Extending this, there are now also very active and vocal shareholders who will be holding management and the board more accountable than they may have been in the past.
This is a company that is potentially dramatically oversold. Max loss versus max reward at this price is a good risk/reward decision. Even in a worst case scenario, the total loss could be no more than the current price (under .50 cents). It is unlikely that even in the worst case, the stock goes to zero so the most realistic max loss approximately 25 cents per share.