This has nothing to do with money. He wanted 51% ownership. If you own more then 50% of a company or product you, basicly, get to choose where it goes to and what it is used for.
I'm still skeptical. Unless this tech. has been quashed by competing technologies, it's in the category of "too good to be true."
The guy wouldn't even release samples to prospective buyers for analysis before settling on a contract. I'm not surprised no one wanted to buy into something that they couldn't verify with their own tests. It comes down to greed, plain and simple.