New member, enjoy reading the Board. I look at the other reason for a N44-101- not financing right now as ZEN has said repeatedly they don't need financing for 2014. They would if they still own it later in the year, but not right now. I know, I've also heard this many times and the opposite has happened, but they've been truthful about stuff so far... usually late with timelines, but truthful.
They also released their Annual in April and that was released in the Summer last year so why earlier? Could be several reasons, but sounds to me like a certain company is "getting things in order". If it's not financing, could it be a transaction? They're visiting Japan in May so that leads to all sorts of speculation.
I still believe any financing will wait until post PEA as their N43-101 numbers should improve in many areas.