Letters of intent mean nothing more than a joint decision, at...

Letters of intent mean nothing more than a joint decision, at Board levels, to work together towards some sort of objective

And most letters of intent are just an intention to work towards a more formal and commercial - legally binding with financial consequences - agreement

nothing but good intentions
lovely instruments to use and wave around to get investors throwing money at you to, ah, say, syphon off to your consulting companies on "investigations"
i am sure these have all been reported by the Board as related party transactions....