You're right and raising even $5 million is impossible.
And even at tenths of a penny I don't see that Ntephe et al are buying any shares. If some kind of a deal was in the offing insiders would be buying .
My guess is that even raising another half million dollars is going to drive the share price to 3 zeroes with the relative volume stalling and the whole toxic debt process come to an end !
Looks very much like Ntephe is going to ride this cash pony to the last buck if you can forgive the pun !