I am not a market sophisticate. This smells like money laundering to me.
You want real money laundering, look at modern art. Perfect medium to pay someone for illegal activities. Often the art in question never leaves the storage facility and all sales are private.
The family that owns the business has millions of shares and sold a handful of them for $9 per share.
As I understand it, very little money was laundered.
The company is on some intermediate stock exchange, right above pink sheets but well below NASDAQ.