Jets911:

• They don't want to be classed as vapourware.
• They are a small team and have to carefully devote their time to the KEY developments and discussions.

I think you nailed it, jets911! Especially the vaporware aspect is very important IMHO. When they'll appear on the stage with a partner (or a partner with them) and they can present the world a 40 nm demo chip, both (partner and chip) will be undeniable facts and will set them so far apart from those 98 % penny stocks!