That all depends...how much people are willing to sell their shares for...if people are dumb and there are plenty, they will dump into the MM's hands in trips possibly 001. that means the short cover will get filled at some point if enough people are selling low.. However, It's not an issue about how high but how much a shareholder(s) is willing to hold out for.

I'm the seller and you're the buying. I'm asking 0009 for my shares and you put a bid in for 0009. you get them. The next min someone puts a buy order in for 002. if I happen to have shares avail at 002 they get filled. Meantime because there is a huge outstanding short position waiting to cover; You me and everyone else including the shorts will be competing for the shares. This is why it went grey in the first place. they couldn't cover in the otc so they got it pushed down into the greys "thinking" people will dump to get out and they get their money.
You really won't know what price we open at or where the price will go until the market opens for trading. It will be erratic and there could be huge price swings during. Eventually it will settle down and stabilize.

now regarding the short interest. If almost everyone held off and kept their limit orders at .25+ in theory the mm's would have to pay that because they HAVE to cover. There would be no shares available to sell for anything less.
Does it mean your shares at .25 will get bought up to cover? well that depends on how many sh decide to sell for much less. The price fluctuations are no longer dependant on MM's control and where the chart it. it's strictly peer to peer trading. price is anyone guess now.

For certain we are in a company that is real backed by assets which are real so we aren't a typical suspended grey sheet. many grey sheet company's operate very successful businesses. So there is no reason for PDXP not to do the same.