That's a great observation and an interesting question,...

That's a great observation and an interesting question, especially for your first post on hotcopper.
I see that their sell was 30,000 shares - leaving them at 4.999% holding. Looks like a pretty clear effort to be below the reporting limit, so I wouldn't then be surprised if they were playing around with buys and sells since.
I have been watching what look like automated sells to keep the SP under $0.60, always coming in a second after a buy order. My thinking was perhaps someone is intent on keeping the price low.
So much so that we're hovering around a price only beaten during the Covid pandemic (or pre-2019 when it was a much smaller business).

Given the general lack of liquidity in the share however, I don't really know what margins they could be hoping to make (if it's them that is responsible). Unless they're content with people panic selling down in small packets, and they have confidence that the price will rebound.
I doubt they have locked in a sell of many more of their shares long-term, it'd be a rare investment company that is content locking in a 25% loss.

TL;DR - I have no idea, but it certainly is notable that they dropped specifically to 4.999% holding.