Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-120

The reality in this life is that every single person acts out of their own self interest, no exceptions. Fred is so far in on AKP he will say anything to keep the dream alive, and if you were in the same position you probably would to. Everything is carefully worded so that there is always room for future failure, so no guarantees.

My guess is they are not a fake just still years away from having a final saleable product. My best guess as to why is that they have an incompetent management team who are simply incapable of informing shareholders properly because they keep pressuring a tech team to move faster than is technically possible and the tech team are afraid to push back. Some evidence for this is many in the tech team recently resigning.