Ace, Actually, they never stated publicly that that was the reason. PV alluded to that in his letter, but he never specifically referenced that contract when he said business was lost. He also never PR'd that it was lost.
And, no, it's not illegal to issue a PR prematurely. Or, if it's illegal, that doesn't stop a LOT of pinksheet companies from doing it all the time. I've owned other pinksheet stocks where PRs come out either premature and/or or the deals never come to fruition. It's common.
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