well its a deal, page-34

Executing a Letter of Intent is not just sending a letter to someone. It is a precursor to a contract that companies sign to formally acknowledge that they plan to work together. Companies execute letters of intent as a way of formalizing an agreement to work together while waiting for the lawyers to muck around for weeks on the fine details of the contract.

It's a bit like getting engaged before getting married.

The OBJ LOI does require them to achieve technical milestones however. So there is still work and risk ahead.