It doesn't matter.  The fact that this company is largely held by insiders and so far it doesn't seem like we have larger retail investors willing to trade the stock. It doesn't take a whole lot to move the price.

What I think happened that day was a market order sell all from questtrade.

Whether the seller is aware of the market order and that they're at the mercy of the thin bids or it's a margin call on their account (market was down).  We don't know.  Either way, the bids at 8 cents were able to fill sort of like back in march 2020 with the covid drop, someone was able to pick up shares for a penny?