I notice when NP announced the initial NBA during

I notice when NP announced the initial NBA during the shareholder meeting, he said nothing about up front cash, but talked about funding secured.

Then all of a sudden funding wasn't secured, but I think during the rodeo he didn't call it "up front", but the words down payment were used when talking of the non-binding agreement. The conference call mentioned the "secure funding" and then why we didn't get any and he said we would understand later.

My guess is he had a loan or some type of funding lined up and then as talks/negotiations got deeper. They realized, the loan/funding wasn't needed because it was going to be part of the agreement when finalized.

This is all speculation, but some of the dots make sense based on what we know, and what he has said the past couple times.