The scenario you describe here is what most concerns me especially with regards to that possible 18 million buyout. Was that buyout if true achieved on the side under the noses of the shareholders? ie...why settle for 1.8 million when you could have the whole 18 million for yourself in say 3 months. For what I have seen and heard around here, I wouldn't doubt it. IMHO.
Incidentally, I am curious what you friends' commentary is post the sell-off here in regards to that possible buyout offer? Does he have any?