My opinion is, that all those shares are already in the hands of retail, and that occured when the serious dump was taking place at prices 15 to 20 times higher than where the share price is now. Many are down so far in their SPNG holdings if they sell now, they would only salvage a small portion of their investment. The mentality of many penny traders is to ride it till the end once they are down soooo far. With so many being so far in the red, coupled with the lack of buying interest equates to minimum volume.
A comparison that seems fitting is the housing market. There are millions of houses on the market for sell right now that aren't moving. Most are upside down since the market bubble busted, and now they are holding the bag. Just because there aren't many people willing to buy these houses at the price being asked, or not many people willing to by at all, doesn't mean there aren't that many houses available....it simply means the interest isn't there, and therefore the market remains staginate. Same situation here with SPNG...plenty of shares on the market, but not enough investors willing to take the risk, or pay the price being asked.
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