Buyout before PEA has always been considered probable. Now with 20 NDAs, it is very possible that SGS on behalf of ZEN has been processing to the tech specs of these NDA holders rather than processing to meet the requirements of our internal PEA. The delay blamed on SGS for the PEA may just mean we don't need the PEA we are expect to come to an "mutually agreeable arrangement" with the NDA'rs = Buyout within 6-8 weeks once the 20 all have had a chance to see and touch the product.

I am leaning toward an interpretatio tha the PEA is delayed due to pending buyout.