@bobadah I agree with your statement that "our dividend formula...

@bobadah I agree with your statement that "our dividend formula that was not announced because management decided to be prudent."

Conservation of capital when there is a depressed market price for your product is a sign of prudent management, especially where they are considering expansion, but a healthy stock price and consistent dividend also must be a consideration to encourage a stable and loyal shareholder base.
Short sellers thrive on the fear and doubt that they create amongst the shareholders. There are steps which the management could take that would reassure shareholders and unsettle the short sellers, like rights issues and dividends as I suggested in my earlier post to this thread.