That's certainly how I read it, and that was also the impression he gave in a recent SEC filing (with the exception of the pre-melt).
I'm quite certain that the administrative obstacles are much bigger than most here would hope ... and while they always slow things down, they seldom prevent them from completing at all.
What's clear is that JBI does not want to make any statement about how close they may be to any of the steps involved with the RKT rollout, as they can easily get tripped-up with admin/operational problems and don't want to risk looking foolish. SEC is watching... and it just gives you and I more time to accumulate cheap shares. ;-)