The other problem is, if you dont place an order for 5000 shares or more, I dont think your bid would show up at .25. Not positive, but that may be the case. And yes, the greys are their own market. Hard to get quotes and hard to trade there.
If you're still looking to flush money here now, why not just buy up every available share under 40 cents? You would probably have to buy a million shares just to drive it up over 50 cents, so if you honestly believe $3 is coming, why not just go for it?