What's more significant, in my opinion, is that management continued to receive a salary, and other priveleged individuals benefited.
Think any of the short sellers were actually working with private placement shares?
Shareholders are upset because the objective of any company is to capitalize on its products and intellectual property. Successful performance would equate to generating profits for the company, and for shareholders. In the 7 years I have been invested, that hasn't ever happened.
(And, yes, I have shares that I purchased at $6-3/8..... so, yes, I'm pissed, too. In all fairness, I'm more pissed at myself for not learning lessons about this company's management early on. Fool me once, shame on you; fool me twice (or three times, or more) shame on me.
Jeff