I dont see why banks would not lend the money to get things moving. Once these contracts have been fulfilled and some revenue has been generated I think it will be a pretty valid show of the business capability to make money.
I also think its prudent to consider the statement on the yearly about a new package under way which will dramatically decrease the overall cost of building an HX. They may be waiting until it's completion, what ever form that takes, before proceeding further.
Ann: FBR 2019 Annual Report to Shareholders, page-48
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