It's now almost certain that the mystery backer is Super Alliance and/or people associated with that company.
Simple Google searches reveal a history of big deals that never eventuate and a bunch of court cases - but not a single deal that goes forward.
The phrase:
"information in respect of their capacity to meet their funding obligations under the Agreement;"
Indicates that the penny has dropped for PDY and they're now realising that the 6 billion may not exist.
We're stuffed. Proper stuffed. I can't see any good way out of this. I bought in at 0.043. A good outcome for me is if I can dump my shares at anything above 0.01
PDY Price at posting:
3.3¢ Sentiment: Sell Disclosure: Held