Thank you for this well thought-out response. In addition to a suggested law about updating share structures, I would say there should be tougher penalties, including criminal sanctions, against executives who let their filings slip into "stop sign" status.
I think this stock is simply being affected by high volume same-day flipping. That could explain the almost wash sale-like trades where this seems to simply run around in circles all day.
Just my humble opinion, of course.