I believe that's exactly what they did. It first started when they dropped it from the .06s when shares had been very hard to come by and there was absolutely no reason for anyone to sell. What is good is that it will be relatively easy for any investigation to account for the legitimate shares and work out what went on:
short time frame, low float, most legitimate shares still held by longs etc.

Also, malc stone has been and still is instrumental in bashing another stock for over a year which will be very easy to investigate as it also has a relatively low float, a significant portion is not available to retail, and another significant portion has been in safe hands throughout. So that's another set of credible informants and another very disgruntled defamed CEO lined up.