Few people know the value of the company better than Frank...

Few people know the value of the company better than Frank Wilson and the board. Now they are sitting on opposite sides of the table holding the same knowledge. Its the board's responsibility to recommend whether shareholders accept an offer given. I think FW wont be involved in an offer that the board would reject since it would undermine :

1) the company he worked so long to establish
2) his own reputation
3) the board members, some of whom are very close friends and hold substantial positions
4) employees whom he plans to lead and whose own shareholding are in jeopardy.

I am expecting an offer above $2.00.