I agree that discussions are most than likely still going on.
However (there are so many shells available out there) the split of the post merger ownership is certainly the object of serious NEGOCIATIONS.
Secondly, assuming (and I do) that Pure Romance management is smart, they certainly do not negociate ONLY with UVCL. I wiould bet that they also look at different alternatives and try to get the best deal for there (private) shareholders.
I personally beleive that Sean holds the short end of the stick and cannot negociate easyly whatever a final agreement could be.
Let's hope that the month end commitment can be respected but in such environments, target dates are only that targets.