Since this discussion is of very little importance, let me add something to it.
IMHO this is wat really matters to the value of a stock (sorry if I'm being too reasonable):
If a stock is on bid for 10 cents a share for a 100.000 shares, and on ask for 15 cents a share and a 100.000 shares are offered, one could say, the value is the value which somebody is willing to pay for it. So in this case 10 cents. and you can only put that price on 100.000 shares for sure.
The first one to meet this condition, is the one who gets this value.
Now, somebody else comes along, and buys 50.000 shares @ 15 cents. So the latest known price is 15 cents. Now there are 50.000 shares offered @ 15 cents. And still 100.000 on ask @ 10 cents.
The one with the shares offered could say, the value is 15 cents. But at this time, there is no one willing to buy them at the price.
Now what is the real value? The real value is where somebody could sell the shares for at that moment.
So that's still just 10 cents, even though the seller has already sold half @ 15 cents.
If he really wants to sell, he could sell 50.000 shares @ 10 cents, which will put HIS average selling price at 12.5 cents. This is the value he could get, if he does so, and beats somebody else, this doesn't mean the value is 12.5 cents to everybody. It's just for him, because he wat the one able to sell half @ 15 cents and half @ 10 cents.
He also can wait, until somebody else meets his asking price. There's nothing wrong with that. That way he could get more money. But it doesn't make the value of something higher. The value of something is what you can get for it, not what you want. Even if nobody is selling, because all think the bid is too low.
Now suddenly another person comes along and wants to buy 75.000 shares @ 15 cents. There are 50.000 shares on offer, so his order fills for 50.000 shares, and 25.000 shares are still on ask.
The next above this asking price is 18 cents for 200.000 shares.
You can now say the value of this stock @ 15 cents. But....only for 25.000 shares. If someone wants to sell 50.000 shares at this price, he will not be able to.
The nice thing is, such an ask and offer, might make others believe that this is the real value at this time. So they also might put in offers and bids around these levels. Which helps to support the value.
This is something that works best when a stock is traded a lot.
With penny stocks that are so little traded like this one, with only a relative small amount of shares on ask and bid, it doesn't really work that way. That's also why the spread is so large. If you really want to put a value on your shares, it's the value one is willing to pay for your amount of shares at that time, not what they did pay to the one who just got paid.
