I was in Phillips on Sunday and talked a bit with Bob Troup. He said they have made a proposal to the MNG to purchase Monson 3 outright, the logic being that they have already invested ~$120,000 in the engine while MNG values her at only $90,000. It's unclear to me how this idea will be received by MNG, but all further work has been put on hold pending the outcome of negotiations.
Whatever happens, they are still in desperate need of money.