My biggest concern is why would the MMs sell shares into a run to beat the price down when they already are getting the debt holders shares at an extreme discount.
It would make more sense to run the price up and then sell into the bid at much higher prices, or even short at much higher prices and then beat the price down to cover.
See, this is why the whole selling into the bid (dumping) before they get the shares and then cover with shares they are given does not make sense.
It wouldn't make sense from a profitting stand point.