Suggest you call a financial advisor and cpa.

Converting edig in an IRA to ROTH at 4 cents you pay fed and state tax based on that. Just for discussion, it costs you approx 25%, or a penny per share. When the pps get to around 6 cents, you are green, BUT, it needs to be held 5 years before taking distributions from a ROTH or there is an early withdrawal tax penalty.

I'll stop here because there are many particulars....it needs to be studied thoroughly.

I did mine at 8 cents, a disaster at the moment...lol.

At about 10 cents, I could absorb the early withdrawal penalty and break even.

I'm generalizing, approx math only.

Check into details....imo.