See what AP UK reports, via 1001 Noisy Cameras.
The flipping monitor is nothing appealing, frankly. If Ricoh is really to make this K-mount module, they should make it to at least supporting some kinds of automatic functions of which those K-mount Pentax lenses are capable of. Otherwise, a cheap $20 K-to-M mount adaptor will just do it, as GXR M-mount module has been already there for quite some time now.
Similar to the last ePhotozine report, a new Pentax DSLR was hinted but nothing was disclosed, i.e., nothing was talked about and thus nothing is concrete, of course! :-o