With volatility and a low share price it is easy for traders to make a significant return off even just a pip... news comes out and you sell on the news to capitalise on the increased interest. 1c is also a psychological resistance/support, and given that this stock was priced significantly higher back in April you might find holders who bought in higher and have decided that they will cut their losses should a 1c+ order get filled. Who knows, people have their own agendas to suit their needs/appetite.
