Unfortunately with out the competition of buyers it only takes one investor who just wants out to destroy the share price.
Let me put it this way:
You have a car that you really want to get rid of. only one buyer comes forward and he offers you 1/2 of what you were asking.
Since you don't have any offers, you begin to think if I don't sell it to this guy at his price I am going to be struck with this piece of junk and end up with nothing. So you sell cheaply just to guarantee you are not struck holding the bag.
In the other scenario
You have the same car,but this time you have 20 people who want it. You don't have to settle for the low ball figure, as a matter of fact if enough people want it badly enough you will probably get more than what your asking for.
The CEO as a large shareholder who is getting hurt like the rest of us trading on the expert market, you would hope that there is a legitimate reason why they have been unable to file for 2 years.
I can't imagine any reason why he would be doing something nefarious to cost himself millions.
Squires has Common Stock Benefically ownership to 80 million shares, this suspension is costing him over 4 million dollars since May 12th.
Assuming Pasaca will exercises its convertible debt of 249,661,287 shares. this suspension is costing Pasaca over 12 million dollars.
To add to that one has to believe Pasaca did a deep dive into the company before signing an agreement to buy 51% of the company.