Kluge is the major holder (>6M shares) but he is not an insider. I don't think the BOD is going to give Borshell and "IMG" any kind of break on the price as he did not leave on good terms with Greenwald.

I'm sure Borshell knows what the company is truly worth as he was there for 25 years. Apparently he thought $4.00 was too low in 2006.

Image should not sign with ANY questionable buyer unless they put at least $5-10M into escrow.