[Having read their entire site and watched any interview with...

[Having read their entire site and watched any interview with Jim I could find, IMO this is the current state of play but of course DYOR!]

As per their sites roadmap there are only 3 major steps left before serious talks begin:
• Develop a production process for equipment currently used by memory makers.
• Demonstrate this process
• Collect performance data for memory makers & buyers.

In terms of a time frame on this however is very much up in the air, it could 2 months or a year as there could be large hurdles to overcome but, IMEC has some of the brightest minds in the world and could resolve them very quickly.
I agree with @johntie regarding how quick the buyout will come, so timing is going to be very tough if you aren't willing to hold over a longer term.
Regarding the buyout, This also has a very wide ranging value and will come down to how well the board can negotiate the price. (Which is great news for 4DS as Jim has already made several Billion dollar deals within silicon valley, the largest being 4 Billion I believe, in one of his interviews he hinted that 4DS is potentially his largest). So, you have a company that could potentially sell out for 4 billion or it doesn't go as well as planned and someone buys the patents out for 150 Million.

As I see it you have a Stock that could sell out massively with very short notice so with each passing conference, ASX announcement, interview or whisper for Jim the anticipation is building and the price will rise from now............. Or it doesn't , again just my opinion.