"The $7.5 million offer included a royalty-sharing scheme deemed inadequate for the intellectual property held by PTSC, which has value estimations in excess of $1 billion."

So it wasn't just the $7.5M (that stuck in my head), but also a sharing of income from TPL's future licensing.  Now I'm a little surprised that our BoD didn't just jump on it - no effort required, get lots of money.

Maybe some should consider this little tidbit when criticizing the BoD.  The deal we ultimately got, in spite of FUs by our legal team (the Higgins fiasco), is undoubtly way better than what we could have had if the BoD exhibited the "laziness" and lack of foresight expressed by some (many?), and just took that old offer from TPL.

Just an observation.....

SGE