That sounds about right, from my experience PP shares went for about half the current share price at the time of purchase and usually have 6 month restriction. I initially bought PP shares (i think in '08) for .05 way back when the stock was .10. Things may have changed, but from what I hear they have not.
Once the 6 months are up it could take another month or, so to get the updated certificates, restriction lifted & shares deposited and cleared for trading.
.016-.02 sounds about right for the pps range back then and for the past year. A PP investor looking to make a (relatively) quick buck could be counting the days/months to where they can freely trade/sell their shares - they actually go from hoping the stock doesn't take off before their restriction is lifted in the first few months to hoping the stock doesn't go down in the last few & they either double their money or, worst case, get out even.
Just a guess, but seams pretty plausible.