If it goes to CCAA it will stop trading, TSX will delist, and shares would be worthless according to some analyst. Any profit to be made is before the shoe drops not after. Extremely high risk and very little reward currently unless something new comes to the table such as increased EBITDA, roll over of debt, conversion of shares ect, buy out, ect. Someone in your case who bought at 75 cents is probably better to hold as you have already lost 90%. Someone who bought truckloads at 7-10 cents is in a different positions with more at stake to lose.