At six cents a share, I doubt anyone is too worried that a hostile takeover would lower the value of their investment. We can't really fuck it up much more than it already is. And I believe we are mostly in agreement that FO

OS will likely bomb, which is quite likely to drive the stock down even more. I'm aware it's not a simple matter, but some of you are overblowing the technical details (for one, it's not exactly a multimillion dollar corporation, IIRC, they barely have a million on hand, and much more than that in debt.) when, unless by some miracle, FO

OS is a genuine blockbuster, their only real assets are going to be a few licenses. Given that FO3 was apparantly cancelled without Titus going into an uproar, obviously they don't think the FO license is worth a whole heckuva lot. Hence I don't buy that Titus wouldn't sell. Given that Titus and IPLY were recently suing the crap out of each other, they might even be eager to sell.
All this would be dependent upon FO

OS bombing, and thus IPLY stock going from its current dismal value of six cents a share down even further (fractional cents?) anyway, so at the moment it's purely theorhetical. And yes, I'm aware people have brought up the subject before, however on those occassions IPLY wasn't so FUBAR'd financially that even non-accountants could look at their financials and whistle appreciatively at how fucked the company is.