My view (FWIW)is that for as long as I have been holding stocks of this company, Matin expected to succeed and at the same time keep full control of the company.
If everything had gone as expected (see: business plan of December 2002) he could have done it.
Unfortunately, it didn't and he had to face continuous requirements for cash. Instead of (or in addition to) issuing millions of share (including half of them to himself as "compensation") he did sign notes, borrowing from Bingladesh and putting his ownership of the Mills as garanties of the loan (expecting to get it back when his American operation would be cash producing.
He did dig this hole and probably got to the point of no return about 6 months ago (someone probably made him face this as a "fait-accompli").
From there on, he probably decided that time had come for him to face the reality and he may then have decided to "share control" of the business with 1 or 2 large investors, keeping some control thru a shareholder's agreement instead of a ownership of 50% of all O/S.
IF this is close to reality, he had to finally normalize the company (audit, report, list,...) and this justified last October "surprizing PR.
MAY BE, JUST MAY BE, Matin finally did listen to "competent BUSINESS MANAGERS", understanding that the outfit was either tobecome managed as a multi million $$$ business or go under.
Again I beleive Matin probably is a relatively honest (he obviously did hide his problems) good operation manager. However (it took him a lot of time to see it) he did not have the "BUSINESS MANAGEMENT SKILLS" required to succeed in difficult times he had not forecasted earlier.
This is a frequent sequence of events when a "small business" becomes a "larger one". The alternative is that the apparently good business (growing rapidly) is effectively going bancrupt more or less rapidly or taken over for peanuts by business people having access to fundings and knowing how to manage a growing business.
May be Matin ended up having to decide between death and survival.
JUST MY HUBLE OPINION OF A POSSIBLE SCENARIO any other scenario being as credible ???
