Ann: Change in substantial holding, page-47

this way it's probably more effective way to suppress the SP down. Another option could be there may not be an insto that would put money into ALK where 1 person holds so much control.

ALK seats on lot of cash and they can defend the SP by investing into ALK and buy around $20m of ALK stock instead of buying into another small explorer. They can sell those share at much higher price once all the things Nic promises to happen play out and make a huge profit. ALK can just cancel the shares they buy if it's simpler to do it that way and just issue new shares once we are up and flying again.
But for that to happen (even if the CEO proposes such action) someone who controls the company has to support it and if it's not in his interests then it won't be done.

Yes, I know some think the market should decide the SP but is the market deciding the SP now - If we are to use the same analogy.
Technically the market decides the SP all the time it is just how the market reacts to certain events. The market decides the SP right now when 1 person is consistently selling the market is not bidding. Also, the market will set the SP if ALK launches share-buyback.