From how I read the MOU with EBH2 the only terms are all on EBH2 to prove that their system can produce what they had said it could produce, and that the EBH2 system would be able to be scaled up.

If EBH2 can not do what they said it could the deal is off. In my opinion the deal will never see the light of day as it was first negotiated, as it doesn't look as if the EBH2 system is able to reproduce what it had published it was capable of. That would then open up negotiations to form a partnership to develop something that both parties will bring something to the table and rather than HPQ issuing shares to EBH2 they would form a joint venture with new terms. 

Could the principles at EBH2 be the ones who are looking at buying HPQ as what was explained in the latest release where the buyer was not named? Another twist.