Its possible. But, do you think PNTV plan a delay for Phase II? I am thinking it has something to do with the behavior of the stock. The stock starts out as a gainer, then around 11am, it starts it downward behavior. You noticed how many shares it trades when it goes back down. Sometimes the sells are two, three, four times the buys but the stocks ends up about the same price it started out with. Strange!
I believe PNTV knows why the stock is acting like this and is purposely holding back announcing Phase II as a result. IMO.