IMO, the CEO position could be taking so long because it will be combined with a partnership. As an example; perhaps, Apple is looking to partner with PTK (say a 10-20% position) and this partnership involves the move of Blevins into the CEO spot. This could explain the lenght of time for his employment to be announced due to this complex deal being inked.

PC mentioned in the CIC in February that he would not move to the Nasdaq without a partnership in place. At that time, he had expected to be ready to apply in June so one would think that a partnership must be very very close (as is the CEO). Could it be Apple or now Applied Materials?

If this is the case, then your $3-$3.5 estimate is definitley low. A major SP run would be in order if this speculation was to come to fruition. Ciao.