Andy Rubin's Essential phone runs Android, according to Eric Schmidt

The tweets from Rubin and Schmidt make it sound like the phone will be announced soon enough, so we may not have to wait too long to get answers to these questions though.
source: @EricSchmidt
Story timeline
This story is part of:
Andy Rubin's new phone - Essential (10 updates)-
30 May U.S. carriers confirm the Essential Phone will work on their networks, but none will offer it directly (UPDATED)
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30 May Andy Rubin's new high-end Android smartphone to be unveiled later today?
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26 May Andy Rubin's Essential phone gets teased on Twitter, is this a 360-degree camera we're seeing?
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25 May First Essential smartphone (developed by Andy Rubin) could be announced next week
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17 April Andy Rubin's Essential Android smartphone spotted on GFXBench