The money managers and big players do this all the time. Big sell blocks above the trading price keep it capped. Well known technique. Keeps the price down and shares can be milked out of the weak hands. The volume is very low so price could slip more.
What is bugging me is why the time for the updated financials has gone by. Didn't Nasdaq give them 60 days ? Perhaps the books needed more work than they thought. We wait. GLA