Very helpful thank you for your post, and taking the time to write it.
Seems like a slam dunk, at least until we see how it will be structured (shares A/B) I know I read somewhere that they were hoping to up list in 07, but they didn't quite make it. So was to become a priority for 08.
For them to qualify for up listing I see a merger as the only feasible vehicle to achieve that status. If they were planning on doing it in 07, I would think they already have a plan and should be at mid to final stages. At least this would be my assumption. Thank you for your note, Val :-)