"Boxed in the Cellar" - 0.0001 bid and 0.0003 offer.
"Cellar Boxing"
At times the market will go to 0.0001 bid and 0.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003.
If a 0.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid.
The 0.0001 bid at 0.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels.
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