I am closely following ABAT.PK.  This is a Chineese battrey company which was recently delisted from NASDQ after failing to provide quarterly report and other financial statements integrity demands (NASDAQ asked to audit their account in the bank to see if they really have money in the account). I was in @ 0.33 when it went OTC. Last week it was climbing like crazy around 25% up per day until it reach 0.95 and crashed. This stock was hugely shorted and rumored to be a fradulent company by some online research firms who had short interest in it . Last week It was in news that they opened n new 83.3 Million facility in China. A long guy from CA travelled there, took some pictures of the openion ceromony, talked to CEO and posted in flicker. Yahoo finance today shows its market value of 35 million and PE Ration of 0.87. I think this company is hugely undervalued and if they can clean their image and get relisted or go private it has a huge upside potential.
From what I see is this company needs a good PR officer as their english website is really not up todate. They are still looking for their new CFO. I believe this company is way undervalued and has huge upside potential if the rumor of financial fraud is only rumors spread by shorts. 
I know I made the very same mistake by buying and holding in this volatile market. Damn it I should have never listened to Buffet...lol. Too many missed opportunites have made me rethink my strategy. Now I will ride the next wave and dump it. Anyways guys check this stock out and I think if you can grab it around 0.40s or low 0.50s then still it has more upside potential then downside risk. 
Looking at its wild swings I would not bet my future on it though, I just make small part of my portfolio.