I rang the company recently. Obviously they can't give promises but they said that it was progressing as expected. Although the deal said 3 months, he said it was actually 90 days and doesn't include weekends.
I wouldn't worry too much about this selling. It was bound to happen. Punters always lose patience with this sort of thing. I would expect the option to be exercised until end of July.
And if this is the case, people selling at .005 will feel a bit silly. But will probably buy back in
DDD Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held