Depends who's buying.
Your Microsoft's, Thales', any MASSIVE company would just offer cash at 4-10x premium on current SP. Jsut for example's sake, if it happened today, a $500m offer would be $2.20 per share. Not bad for us, and a drop in the bucket for them. Certainly not saying this is likely at all as it remains to be seen if these companies are even interested in buying AR9.
If a smaller company was interested, there may be a cash + new shares deal offered.
Ann: archTIS Secures Contract to Expand Deployment of NC Protect, page-40
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