I am going to assume that your referral to the TREE is equivalent to a timeframe within which progress is either made or not. Therefore the QB /3 invites Amaranthus into their fold so as to keep an eye on progress without a Financial commitment but duly prepared to get the first jump!
Safe assumption. However if 'first jumps' depended partly or mostly on having your company name on the building directory of the building owned by a potential 'suitor/JV partner', most buyouts and partnerships would never happen.
Building owner might proffer the poorer deal, notwithstanding physical proximity of the parties.
The potential AMBS partner met with at a conference....can't believe that I've just referenced a 'dot'!....might have done as much or more DD and preempt the building owner with a better offer to AMBS.
And it's not like 'the Internets' and the smart phones aren't up and running sufficiently to lessen the need to even get on a plane to cut a deal.