I tend to lean towards your thinking (I'm not new to small cap bio:).. However, I do think there is an outside chance that some kind of significant news could have been saved (for release).. once we become current. It makes sense that with the passage of time and ENZC being at Texas A&M for a period of time now.. that management would have wanted to wait on releasing news for when the max amount of investors would be able to invest. Just a thought.
A believer is one who often does not need additional proof to believe.. A skeptic is one who often won't believe no matter how much proof you give them. Try and remember that the next time you try and debate with a skeptic:)