sorry retiredrcaf, i misunderstand your question. Are you asking why the company issued a press release stating that they had a deal in principal for their itibiti sale before the dd phase was completed? If that is the question, my response is that it happens all the time that way.

Lets just take the tv show dragons den for an example. On the show, prospective entreprenuers make deals with the dragons all the time in principal pending the dd phase. Sometimes after the dd phase the deal is finalized ,sometimes it is not. But it is standard practice for a company to announce something pending dd or some other critieria that have to be met to close the deal.