No details were given as to why the deal collapsed.
UPDATE: IceRocket’s Blake Rhodes emailed me to let me know that, while the LOI is dead, the two companies are still working together.
“We are currently working with some of the THK companies and will continue to. We are also exploring other things. Scott and I talk often. The LOI has expired but we continue our discussions and think we can do a lot together,” said Rhodes in his email.