So assuming everything is on the up and up, what if 10 of us buy all of the shares at market price in the Level II ask column (noted below ) between now and 4 o'clock in an attempt to drive the price up to 38 cents. So assuming the quantities noted remain the same....

But of course, the quantities don't stay the same.  I suspect you'd have to buy hundreds of thousands of shares (at least) to get it to 38 cents.  Each move up would bring in tens of thousands of shares for sale.  And once people figured out there wasn't any imminent news coming, it would fall right back down to where it is now.