Alternatively, the deal might be done, and the parties are just waiting to sign it because the partner wants to be able to control the timing of the PR/8K.

Publicly-traded companies have 4 business days to 8K a material definitive agreement. "Material definitive agreement" is a loose definition, but the contemplated licensing deal certainly would be one for CYDY (likely for the partner as well).

So if the partner cares about the timing of the news, then the parties may have to hold off inking the deal.

(Just one other way of looking at this. Personally, I don't know what to think.)