Ongoing, by the look of the founder's LinkedIn:
https://www.linkedin.com/pub/joseph-bates/2/853/aa3
And his company's patents,
http://patents.justia.com/assignee/singular-computing-llc
Ah, I get the name now. "The Singularity Is Near" came out in 2005 https://en.wikipedia.org/wiki/The_Singularity_Is_Near