I don't believe there was any substance to the supposed potential acquisition from the get go.
I don't believe the "offer" had any validity to it from the get go.
again, all merely my opinion.
the simple answers to seek are, who specifically, produced the 500k? And when have you ever came across an entity such as the calibre of P1 that would require 500k to complete a mere DD on them?
do you recall ttv? And that supposed takeover?
I'm sure you'll find there's a link between someone(s) from P1 and CQA that led to this insistance of such a costly DD.
once again, stressing, this is nothing more than my opinion.