if a gap down like that is orchestrated by the big boys my guess is that it went like this.

Everyone knows the floor is around 1.50 so they put in their stop loss at about 1.48. Big boys see this and dump 100k shares that pushes stock down to trigger stop losses. This causes snowball effect and in 10min you have 300k shares sold down to 1.38. They then step in and buy 500k shares under 1.50. If this was planned they made over 50,000 in 10 min by triggering the stop losses. This theory is a little flawed when you see multiple houses buying and selling but maybe if you know it's coming it's easy to play along.

I think the only reason they would be playing these games is because they know news is not coming any time soon. I see this pattern continuing until news is ready and I bet we see a few green days ahead of news. I don't think management are doing a good job of keeping plans from leaking into the market. I think others know more than us and are able to play this stock.