I would not be surprised if the Oct 31 date gets shuffled and/or if the $8m gets delayed by other "seemingly reasonable" means. This obfuscation and delay tactic is normal for Chinese companies, and probably moreso with the government involved. In the best case scenario it's all legit. In the worst case they are delaying so they can convince their new "partner" to give them a special "look-see" or do testing or provide proof of application so they can steal the IP.

Yes, we're whistling past the graveyard until the smoke clears.