Some have questioned whether there really were buy-out offers. I believe that question is setttled.
Jerad selling it really is the way to go. He is probably thinking that he is going to change the world...and maybe he will. But it takes a lot of hard work and connections don't hurt either. A larger company may be able to expand this more effectively.
Again, there are real products that some people really like. Sell the company even for 5 cents and everyone wins.