news soon?

The following sentence  is from page 1 of the quarterly - so should hear by Monday (or another extension?)
"The due diligence period (and the conditions precedent period) for the $3 million conditional placement was extended for three months until 25 August 2014. "

Isn't Phase 1 (earning 30% by spending $2m) due by 2 October? Should be some news in next few weeks on whats been achieved and what the next $1m (by feb 15?) will be spent doing