"The assumption here, as you know, is that pt*l is simply being used as a useful shell for uplisting purposes"
Oh I think it is a little more than just an "assumption". A new board has even been set up. Although I will "ASSUME" someone on this board was given a heads up on this "assumption".
It's a done deal - according to the postings here.
" Looking at the fundamentals of the company, if this is the case, is irrelevant."
au contraire! I believe the SEC raised a rather interesting question about the legality of the spinoff. And I wouldn't be surprised if they have some more in the near future now that it is about to be reactivated.