He basicly said that as far as he knew eveyone had walked away and the deal is basicly on hold.
If this was "walked away from", then that would be material enough to update the shareholders with that new information. IMO the only reason to NOT notify the shareholders is to support the price as best they can by continuing the illusion of much better things to come. I am not seeing a bright future with the obvious withholding of critical investor information. Just more poor treatment of the commons, while increasing the float as needed, over time, to keep the company running, i.e. keep paying themselves.