Shorts explode to fresh highs

Seems to me insiders know all shareholders are about to get taken to the cleaners Why else would they be so confident of loading up 11% of the stock on issue as fresh shorts at multi year lows with low gearing and steady earnings?  Seems to me everybody but those that rely on ASX announcements know it is game over for the investors in this company?   

Poor mugs who believed the story that there 'was no reason for the decline' have lost 87% of their capital so far. from over 400c to 53c
How much more will they lose when the bad-news-bombshell that the shorts seem to know is a 'sure thing' is released?  Another 20%, 30%, 40%? This could take losses to over 90% of capital where presumably either the company will be broken up and sold or dilutive equity will be raised to divert asset values to the same leading financials that have been destroying the share price.