I'll take a stab at this. If the offer is 10 billion your numbers are accurate. If the board approves taking the offer to the shareholders it would then require a vote to accept or reject the offer. There are many factors that would affect how a buyout offer is shaped. What is the financial status of the company being purchased? What can the company buying them afford to pay in cash/share swap equivalently any number of other forms monetary exchange deemed par value? What is the market for the companies products and it's value(hence a valuation). The valuation will give an independent 3rd party evaluation of what a company could be worth given certain parameters to determine that value. Just because a valuation is set at a certain number does not mean that an offer will be at that value. If the market conditions are right and the products are so revolutionary that a paradigm shift might be at hand, the valuation could be the starting point of a bidding war amongst the giants. If it is not so extreme in nature usually the valuation becomes the best case and any number up to that may be offered. I am just scratching the surface on the factors that affect the share price in case of a potential buyout. From what I can see, the POET team assembled is stalwart in their efforts to position the company for a maximum value. Whether that be in a buyout or to continue on the road to becoming a fabless chip designer(a la Qualcomm). May we all enjoy this ride of a lifetime. Just remember everyone, when the numbers start climbing into double digits, the swings can be $5+ and can make ones insides turn. Hold on tight, cuz the rewards at the end game is what we seek. GLTUA. Derekwpg