It IS very up and down emotionally when a company sets an expectation (through the 8k's) and we hear nothing. But we need to remember a couple things before we go jumping off the deep end (don't worry, I'm prone to doing the same thing)...
There wasn't anything explicitly stated in the LOI that VOID the contract for the 10% even if the 10 day extension is not met. So if they HAD a funding deal, then I think we'd find out soon that the LOI was CLOSED for the additional 10%, but if they didn't have a funding deal, they have a lot of wiggle room for modifying things to get the deal done later.
2) While they are obligated by SEC to do an 8k for the LOI that was signed, if things have happened that are not MATERIAL (i.e. let's say they decide to WAIT to CLOSE the deal for 60 days), then I don't believe that has to be disclosed as it doesn't change things MATERIALLY. I've said before that Rod sucks at communication. There are things that should be PR'd that are real (hiring of SVP of Ops) but then they PR something (the 10% LOI) which was already in an 8k. It's been very frustrating in that respect.
My own personal expectation (based on nothing-- just gut) is that we will see some news on the funding within 2-4 months. Partly I tell myself this so that my own expectation isn't crushed when something unexpected happens.
