BBANBOB,
"One would have to consider any termination of the JV with NOC to be a MATERIAL EVENT,and IMHO would have to be disclosed in an 8K filing..
FWTW"
While I agree with you on this, the JDA has a termination period of two years from November 2015. See below:
5.9. The expiration of two (2) years from the effective date hereof, provided, however, if the Program is still under consideration by Northrop Grumman senior management upon the expiration of the (2) year period, this Agreement shall continue in force until terminated pursuant to one of the foregoing conditions.
I believe the JDA is still in place, but could be terminated due to the time-line expiration or other factors listed in the termination section, like the financial condition of Cirque:
5.1. Any material change to CIRQUE capabilities or other attributes (e.g., size status; financial stability) that is significant to the basis on which Northrop Grumman has entered into this Agreement, as reflected in the recitals to this Agreement;
5.6. A filing of a bankruptcy petition or other material adverse financial change by either Party;
This would give NOC an out if Cirque fails financially. Also, since all the NOC desired assets may/could be under Cirque Energy II LLC, then all NOC has to do to keep the program running is now produce another JDA with CE II. Who own's CE II? Doesn't look like the shareholders of Cirque Energy Inc own anything except debt, in a company with a share price in the .002's.
Since I own stock in this company, I will trust the above scenario does not come to fruition, but I will also not invest anymore until I am more confident of the company's path.
