I've used them myself before to create the exact same conversation that is happening here. I would also stack multi MM's on the ask just for the bad look it gives. It is creating some doubt here so whoever is doing it its probably working for them.
Its risky because all your blocking shares can be bought out in an instant if news comes out.
Yep just like they can dilute with others also. It's an old boys club, and they don't show there hands and are also mostly in control. Only two things take them out of the drivers seat, that is big selling and buying.
I am sure you have heard be careful in an illiquid stock.