TF4: A Sequel or Reboot?

So with the new exciting confirmation that Director Michael Bay will be back for another addition to the Transformers franchise many people are still unclear as to if the new film (Releasing June 27th, 2014) will be a reboot or a sequel to the blockbuster, TF3. Michael Bay stated himself:

"To clarify uninformed reports coming out of Toy Fair - Steven Spielberg and I are working on a whole new re imagining of Transformers, the fourth installment. We have been working on the idea for a few months. I'm excited about where it's headed. But first I'm doing a small $20 million dollar edgy black comedy of a true crime story set in Miami called "Pain and Gain," starring Mark Wahlberg and Dwanye Johnson, and very close to signing on a couple other great actors. I'm extremely excited to simplify my film career this spring with a great character piece."

So that pretty much gives us the hint that it will be a sequel but have new ideas introduced. This should be exciting! The wait begins now!