I think a lot of the volume is the insiders and MM's trying to create the illusion of interest, by buying and selling to each other. "who's turn is it in the barrel today"
I cannot for the life of me think that anyone that does any amount of serious investing doesn't do some basic DD and realize there is nothing there except empty promises. That's the only conclusion one can come to after reading PR's and seeing no results for years.
I know - the standard answer it "there' always some one willing to take a flyer for a few $100 and see where it goes. As Mr Barnum said "there'a sucker born every minute"