Option #3 is invalid.
The collaboration with Freschefield was to start in June with $1 million fee paid over 12 months. FF should has paid an installment in June or latest in July, else who would paid for QMC's labor cost? The company needs money, there is no tolerance for late payment, if it still did not paid by Sept 30 Stephen would put the collaboration on hold or even end it. May be FF is broke and can't come up with any money.
Any money received between June and September will be reported in Q3 Report as revenue, the management has no obligation to report such insignificant collaboration fee in a particular PR.