From the PR. I think he should have SAID in the process of TRYING to procure funding. Conversely maybe he IS in the process of procuring. As of NOW, none of us KNOW anything.
Funding: Currently in process;
The Company is in the process of procuring Federal and State Government Grant financing amounting to 25 million dollars as well as Government guaranteed Bank financing in the amount of 3.5 million dollars and private financing amounting to 1.5 million dollars. At this time, for matters of confidentiality the Company will not disclose the names of the banks, government agencies, or college institutions that it is currently engaged with.