As we all know, the chart often tells the story before we get...

As we all know, the chart often tells the story before we get the announcement - the fact that this has broken long term support and is rapidly tracking downwards tells me that either the announcement will not be great (which could explain the delay - if they have an inkling they have nothing, perhaps they are scrambling around looking for a silver lining?) or the announcement is still a while off. Either way, there isn't much point worrying about it now - this is essentially at shell value with an EV of about $7mil (not mention it would be a pretty darn good shell with low shares on issue and a tight register). There's limited downside risk now - put it in the bottom draw or average down and forget about it for a while.