GH: Either they dont beleive as much as they say they beleive or they feel it will be going down even further.

I very much doubt either of those thoughts have merit. Why would they buy? Don't they have the ability to wait and convert their options when production begins? Just saying I think they all have very big option positions but point taken they could double down but I would not if I was them. Especially if they were close to announcing something significant. Who knows but it is very disappointing to see the share price at these levels.