For me the bitter end is when an investor has crossed the point of no return in terms of salvaging any meaningful part of an investment. Piezo Electric's ticker is PEPI but trades at .001 and infrequently to rarely at that; the old Savin Corporation, in which my first buy was at 2 1/4 followed by me averaging down substantially on its death throes. It eventually declared bankruptcy, old shares were cancelled. New stock was issued for new creditors and incidently Savin copiers are again advertised. BioGas I lost the opportunity for a healthy $200K gain); it eventually became defunct and who knows what happened to it after that. In all shares, I salvaged less than 1/8 of the investment---the bitter end. I was disappointed but not bitter. I am hopeful that BSTI and a couple of companies will do substantially better. I like BSTI because it challenges the imagination as to what is possible with the product in a world of resistant bacteria and germs and the numerous uses that it can be put to use. Competition is emerging though not necessarily through microbials. Read last night of a company that has developed an ultraviolent process for the treatment of wastewater in sewage plant; sold the first to a Louisiana township for $100,000 a pop. So it really is about which company can establish its product first and gain widespread acceptance. If that does not happen it will be a long haul to dislodge the established product (product loyalty) even if the new product is better.
As to the other questions regarding the asset value of the corporation, I am SURE others on this board can answer that better than me. Yes patents have value but only to the extent that they can be developed economically and that the product is accepted in the market place. True, should a more capable company come across a struggling company, it may take over the company and/or buy its patents. But even assuming that the patent is worth a minimum of the costs of developing the patent, say $100,000 for discussion and further that the company had 4 such patents. Well folks $400K against 60,000,000 shares is not alot per share value. XYZ has little incentive a premium over to take a controlling interest much less take it over completely unless it is assured or convinced that it will make a profit. It also would help if other companies are making competing offers. Absent the prior scenarios, there is no incentive to buy -- my opinion.
Lets all hope it luckyus. And, that luck is coming our way soon!
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