What should I do if a stock I invested in went to pink sheets?

A while back, I purchased 5000 shares of Spectrum INC, a company that owns products such as Rayovac batteries and Tetra fish foods. A couple of weeks ago the stock was removed from the exchange and placed on pink sheets. My 5000 shares are now only worth $350. Should I cash out my shares, or what are the odds that Spectrum will get put back on the exchange?