While I doubt that Cyclone is deliberately delaying the financials from being released (Though I would not put it past them) I do believe they directly contributed to the significant delay.
The 2-3 years Cyclone ran un-auditied was the same time all the toxic deals came due and the derivative accounting took place. It wouldn't be that far fetched to assume Cyclone was in way over their head (Just like they are Engineering wise)and trying to keep up with what was going on resulted in a huge mess.
Regardless, the fact remains that Cyclone has spent almost 10 years and $25+ Million dollars of investors money and the result is: NOT A SINGLE FUNCTIONAL CYCLONE ENGINE HAS BEEN DELIVERED.