RE: Stan Bjarte owns 11.5 million shares Obviously, he'll want to get as much as he can feasibly get to maximize what he gets from a sale.
I don't think price point profit/loss is a driver for what he negotiates - don't forget he's made money on Croc through the various financings and initial acquisition of the properties through Forbes Manhattan.
If he thinks he can get more value for himself and shareholders from continuing operations rather than a sale - then I think that will be the outcome. If not, he'll try to get as much as he thinks he can for shareholders in the sale of the company.