RE: Back in '08 A fairly reliable source (not anyone from HBK), at that time, indicated to me that HBK'smgmt team had received a serious 'expression of interest' in purchasing the company/asset.
After the event, I was told that the mgmt team had decided that the offer was too low and rejected it. (LOL)
I do not have any further information on exactly who made the offer or the actual amount, nor have I seen any information that would corroborate the fact that an offer occurred, other than an otherwise inexplicable and sudden rise of the SP to 78 (?) cents. I do trust my source tho'