RE: Further I disagree Thain. By INT announcing the joint bid, it makes a potential bidder realize that they are going to have to come to the table with a serious and better offer, otherwise the secured creditor gets what they want.
IMHO, I don't think they are fully committed to running as an ongoing enterprise, but would likely be happy if someone else did... with the agreement between INT and PYN in place, INT will win either way the chips fall...
Either INT and their partner get it, or a new enterprise is created if/when a higher competing bid wins Poynt; the common shareholder of the old PYN Corp. gets nothing.