My prior life was a "connect-the-dots" solution builder for fortune 100 companies.
This might be classified as more entertainment than info.
I believe the China folks saw a great opportunity to get access to some high tech nano production/solution ideas. A struggling company with innovative manufacturing capability. They were seeking a foothold in the nano business and, as the saying goes, "you can't cheat an honest man" they found their perfect mark. Offered a great track record of taking small companies to multi-billion dollar levels which was music to Squires ears. They offered a deal he could have refused but didn't and sold the company for what I call "pocket change"!
The fly in the ointment is that when you sell 51% of a company for all intents and purposes you sold the whole darn thing and are left with nothing more then.a ring-side-seat. Given China's friendly working relationship with India I suspect that before the ink was dry on this "take-over" the production furnaces in India were in the hands of the Chinese for "evaluation", if they are still in India. For all we know, Squires might be holding his breath as we all are, if he is still there. FYI