"Sum maybe you can answer this...can NOT release anything of material(barnburner) without the FS being closed?"

I would be inclined to think that the would be buyers already have a good idea of what is coming down the pike so they wouldn't need to await any NRs.... but we would. I would say, given the nature of a pp that it would be incongrous to have an official NR of material significance before the closing of the PP. Wouldn't be much of a "level" playing field would it? Is there such a thing? :) I suspect there is precious little in this biz that is level. Others here would know more on this than I.

This is a really good question as it potentially puts a time stamp on when a release might come out notwithstanding an early completion of the FS. Watch this timing well. Note if the sp takes a bit of a dive to .90 or so. If I see this I will consider it a significant attempt at fleecing the sheep before what should be a substantial occurrence.