The CEO has to own his stock price Bro... While I firmly believe this is a dirty (evil) shakeout before a bigger run, it really takes a special CEO to see this as 'necessary' after taking millions in funding.
Look around right now and its easy to see this is officially now a one of a kind stock during COVID. Most healthcare OTCs have run or are running.
The CEO is currently in his own class when it comes to shareholder.