If the founder is smart he should extend the lock up period for...

If the founder is smart he should extend the lock up period for another 12 months. It will give the stock a nice boost without anyone spending a dollar. I don't know him so I don't know how badly he needs to cash out but I'm sure he knows the best way for exit is to get the company in good shape and either get it taken over or sell-down gradually as the stock goes up.

Reality is that unless things improve dramatically he has no chance of selling his stock come January. Someone will buy it at some price but probably at least a 30% discount would be needed.