One theory is that they are keeping price down so they can offer .06 or less (show a 150% premium) and take it private.
They have not shown any motivation to support price so is there a more devious plan?
Wonder who seller was? Since they, if a listed company, would now be in quiet period - quarterly numbers are probably known by now.
This is one reason we need a real CFO not an CAO with some power to do more that chart of accounts, time cards, and other things that could be outsourced (read his linked in for more info). IMO, If someone was willing to sell at .03 they should have been willing to buy and retire some of the float with the cash they have been earning about 1% on.