Hi,
You may not necessarily lose your friend if you stop studying, although he may become more distant. If you are not baptized, you won't necessarily be shunned. The people being "nice" at the hall is what is know as "love bombing".
If you tell the person you are studying with what you have discovered, he will label the material "apostate" saying they are lies from Satan. This is know as an "ad hominem" attack. It is type of "logical fallacy". Logical fallacies are used extensively by JW's. I suggest you learn the many types, and how they are used.
Bear in mind that JW's believe that 7 men in New York are directing the world's only true religion and there is no transparency in the organization and their leaders.
All the best,
HBH