Bates, who has wanted to invest some of his personal fortune in Wednesday for months now, still claims he has not seen the accounts and is insistent he will not plough in his money until he sees the figures.
But while Bates is still trying to cast his eye over the books, current chairman Dave Allen is checking out Bates’ financial background through his various business contacts.
Things like this though do not happen overnight and fans will have to realise that this issue will continue for a long time yet.
Former Owls director Howard Culley, ousted by the shareholders a few years ago, is acting as Wednesday’s lawyer in the talks.
Bates has had a top accountant permanently on standby but the club has done nothing to produce the figures according to a statement.
He claims that the club have just passed the issue onto Culley, who could be used as a go-between to get both parties talking seriously.
Meanwhile fan’s groups are hoping to get a black balloon protest organised for this Saturday's game with Colchester so supporters can vote with their feet and demand the current board goes, although that will be easier said than done with opinion regarding the takeover being split right down the middle.