You're totally correct about that. It ain't happened until it's happened.
My last communication with anyone involved with this situation indicates that something's being done. The "something" is supposedly the IPO, and we're now in the timeframe that we could see the first filing with the SEC at any time now.
Of course, it could be something a little different than the standard IPO. It could be in concert with another company, a reverse merger with a company already listed, or any one of many different strategic alternatives. Who knows? I suspect a straight IPO. That seems the most reasonable situation.