Maybe but the private placement and conversation sellers have dumped millions of shares for nine years and made 100's of percentages of profits. Therefore they can and do sell into the bid at whatever price buyers are willing to pay even if it's $0.0001, it's still a profit on their overall position of nine years with the stock having traded as low as $0.03.
January 2017 that was only $0.0645 and nothing has changed from a balance sheet perspective or verifiable future market penetration success basis. In fact it's a worse balance sheet, higher issued and outstanding share count and missed guidance milestones.