It was not an offer. It was an expression of interest, subject to due dilligence. An offer is binding if accepted, an expression of interest is not. It was a bogus attempt to flip the blame for the failure of this company from k.i.t. To current management after they failed to respond to the bogus attempt, just as the current, lower (for the 2nd time) attempt is. This company will file bk. It has no income, its assets look more and more like they are illusionary, it has tens of millions in unbooked liabilities for shareholder lawsuits and it has no credit sources... Creditors will force the sale of the assets and they will each get $0.20 on the $1.00.
all in my opinion of course, which looks like the market opinion based on the failure to move the pps at all based on these "offers".