Some clarification on how large orders in thinly traded stocks are usually handled. The purchaser will contact his broker and the broker will put together the order by contacting his firms clients who hold shares in that company.

He'll say something like the market is currently trading at US$.37. Would you be willing to sell some of your shares for two or three cents above that? When he rounds up the necessary shares he'll put through the order as a buy 150,000 at say US$.40.

That's why you sometimes see a large order cross a few cents above or below the bid/ask, yet the bid/ask doesn't change.

At least that's the way it worked back in the day. I've been retired for awhile. :-)