In business if you make an offer on a company while it is only slightly over 10M in debt and only has failed once and might (at the time) get approval and get turned down traditionally you dont even pick up the phone on the first few calls when they call you back chasing that offer.....you do one of two things. You either A wait a while, dig up current hardships and use them against the company and negotiate a favorable price because desperation is easily sniffed out.....other words they wont even offer a penny a share. In all honesty with the debt load at almost 20M, to pay the legal proceedings, trial costs, and stake holder preferred warrants you guys the shareholders come last and will have to take whatever the board approves. Seeing how Jim has proven in his last companies he doesnt give a damn about you guys.....it is reasonable to believe they would buy you guys out at a quarter of a penny. .0025 at best case scenario. Option B is what I would do, fly to Battelle and make them an offer twice as good as AMIC has with financially and appeal to their sensitive side and prove to them that I could actually afford to and have the distribution in place to execute and market this. Either taking it away from ADMD or waiting til AMIC loses it due to inability to maintain the license or they just file chapter 11.
These are both legitimate possibilities and honestly as someone that does this for a profession (not so much anymore these days) in all probability what may happen with a partner.....Bottom line the option of a buyout is not nearly as favorable to you guys as it once was. Remember the stake holders not the shareholders get taken care of, you know the guys on the board that vote on your behalf
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