I partly agree with you. But I wonder if they won't play the other game first, where they run the stock up to $5, sell 50 mil shares out the back door to new accredited investors for $3/share plus 50 mil free warrants and then PR the news, pulling the rug and plug out just after shorting it.
I like the company too, the tech, after this R/S I have real doubts of its investment quality right now as it is obvious they left room for 90% more, new dilution to raise cash for paying those loans, and or for building more capacity.
I am still holding now, in hopes they do a ramp job up on the price before the next round of major dilution. If they ramp it up, I will sell, and buy back later. And if they dilute after the price crashes, I will add there, and not before.