Hostile Takeover

I have been thinking more and more about recent events. I could be off the mark here but has anyone else considered Defender might be making a strategic move for a hostile takeover?

Reason for this:
1. They now have 2 seats on the board
2. They hold 20%
3. AOW owe them potentially millions of dollars
4. The most telling point.... The announcement stated the commercial terms of the finance were not acceptable to the board. This to me suggests finance WAS obtained but rejected.
5. Everyone should read page 16 and 17 of the prospectus released 5/3/19. They forced us to pay 500k in fees once and potentially again down the track if we failed to meet their forbearance deed. They forced resignation of 2 board members and took 2 seats. Then the Co. taking all steps to obtain shareholder approval to exercise 70,000,000 options. Oh and why create an agreement to say that we have to rectify all defaults by 15 May? Was that when finance was due for Foothills?

Question we need to ask ourselves are:

1. Yes Defender are major holders but why loan AOW so much cash?
2. Why would the board reject a potential offer and burn $1M USD? Keep in mind Defender now have 2 board members and owed potentially millions so would have a fair bit of power.
3. Once the suspension lifts, will the share price tank? If so would most shareholders accept an offer of 2 cents to be taken over?
4. Why no discussion on workovers of existing existing assets? This work shouldn't be held up by recents events. Production should be picking up, not decreasing. Is this another attempt to let the share price slide?

As I said this is all speculative and maybe a bit paranoid but has anyone else considered this?

My average is .0203 so I'm not accepting any offer put on the table. I still think this thing has legs.

Keen to hear the thoughts of others.