That statement was made in both the 2Q and 3Q 2020 (which was actually filed in Jan. 2021) Form 10-Qs.
Item 5 of Form 10-Q allows a reporting company to use this item to disclose things that are otherwise disclosable on Form 8-K. So...if the company thought that the fact that they were negotiating agreements with key consultants needed to be disclosed on Form 8-K, any actual agreements entered into would definitely need to be disclosed as material contracts and filed as exhibits. This has bugged me since they make these disclosures, but, I figured they hadn't actually entered into these agreements since they weren't disclosed.
Your post got me curious again so I went back through the 2Q Form 10-Q and saw that since January 1, 2021, they have issued 910,000 options at an average weighted price of $0.92 with an average remaining time period of 9.1 years. Obviously, this disclosure cannot be correct because the stock has not closed below $1.00 (yet) and only 6 months had passed at that time...so these options must have actually been granted sometime in the fall of 2020, and they likely went to the "key consultants," which raised ANOTHER disclosure issue, since these agreements cannot credibly be argued to not be material. Their own Item 5 Form 10-Q disclosures tell us they know they are material.
So, the good news is that they probably have retained some key consultants who might currently be helping prepare for potential applications. The bad news is, we really can't say for sure because the company has been so sketchy/misleading with its disclosures.
