I think the challenge you might be seeing is that we actually...

I think the challenge you might be seeing is that we actually 'know' that 4DS isn't going to carry this baby to term, so sale doesn't have a definite timing. They have actively and unequivocally stated that someone else is going to be the one that actually makes the chip in its final form and distributes it, so whoever comes in could do so at any point in the process - there just hasn't been any reason for anyone to bother until about two weeks ago. Now, arguably, there is a compelling reason for companies to take a chance on acquiring the company and its patents for implementation on its own or as part of other projects, but they won't bother paying a premium if they can avoid it (if there's no competition forthcoming). I personally think testing and development should continue aggressively to prevent depreciation over time, but I could see wanting to pivot to focusing on a sales team. I doubt shareholders would accept less than .12-.15 (as in they would rather just lose the money than lose the opportunity to get a higher price), which is why I think SP dipping below .12 is either banking on failure (weird at this point) or playing games (very much not weird for this stock). .12 is where the sales bonus kicks in and going much below that cuts into or removes profit that that big mass of options converters are banking on.

By contrast, something like BRN, those guys have always said they want to be the ones to make and sell the chip, so any acquisition is probably going to be visible at a great distance.