Ann: archTIS Secures Contract to Expand Deployment of NC Protect, page-74

50c offer would be $110m. Would get voted down in a half a second by shareholders I believe.

A takeover offer would be forthcoming if the revenue potential was in the hundreds of millions p.a.

A major like Microsoft or Thales or whoever would bargain on that fact that a small(ish) team that Archtis has doesn't want to handle the administrative duties that come with growing to that size. $300-$500m is a drop in the bucket for these companies if Archtis has something that's truly a unicorn, which is where the offers would start imo.