As I recall, the Chippewa Indian Reservation in Michigan, that was funding the project, never could reach a consensus to fund the project nor to seek out the permit required to build on their land. The deal fell through, not because of anything Rick Wilson did, but because the third party (the Chippewa Indians) decided to not move forward with ICBU.
Yes, I was a shareholder back then....and I still am.
The Chippewa Indian project was a write off, so ICBU could move on to other projects.
The hires you mentioned were contingent on receiving funds.