Completely undervalued, page-34

I haven't looked in depth into this, so it's only a guess... but could it be that management are incentivised to keep the stock price low? I.e. their share bonus plans are based on achieving revenue and earnings targets, and if they hit them then they get a certain number of shares as a bonus? In which case, the lower the share price the better for them., because they will get more shares. Once the shares have been issued, it's only then that they want the price to go up... anyone looked into what their targets and incentives are specifically?