The bottom line is Cox can't negotiate, he may have a bad hand but he also had the IP rights. If he was any good he could have gotten a good deal by getting two or more partners into a bidding war.
The board of directors should all be thrown in the slammer for not firing his ass, at best its criminal negligence on their part. The entire management should have been shitcanned when Woloshen and Liposky sold stock earlier this year.