Easy, most are holding losing positions and refuse to sell at a loss. Let's not forget the greed factor...
If this stock is soooo bad and no one wants to buy as you state, why is there next to no selling as well? Its a 2 way street, is this is garbage why has less than 10% of the O/S traded on this downtrend from .024 to current prices?
Why does no one want to sell if this stock is such garbage?