Unless he buy the components and manufacture it himself.
He will also need to add a slice of profit in there somewhere as he will have to purchase the Pi from this site.
The foundation has negotiated very good prices for the components. It is unlikely a small company could do the same. It is also highly unlikely anyone could reverse engineer a beta board. It has a BGA chip on it, and I imagine it is multiple layer. Even if he managed that, there is zero time for testing in that time-scale.
This guy is assuming he can buy to order from the middle of February. He almost certainly wont be able to because the foundation will only send one to each address. So if you order from him, you'll probably have to wait for the second batch. Assuming that the foundation starts the next batch as soon as the money is in the bank, the next batch will be available around the end of February. And it will also be for about 10K units. (Judging from the info Liz gave in her blog post, the profit on each board is around $5-7, so the second batch could be 15K, but there is infrastructure that needs to be to built for customer support etc.) So he might have to wait until the end of March before he can get a batch order in.