Pam Duxbury says she has encountered "an incredible number of timewasters" in her hunt to secure the sale of Hartlepool United.
The chief executive has not been short of potential investors coming forward to express an interest in ploughing their cash into the cash-strapped club.
But, when asked to show the colour of their money, most back away.
Duxbury admits it is a deeply frustrating time for Pools, as the club fights to keep its head above water both on and off the pitch.
"There have been quite a number of interested parties, but unfortunately an incredible number of timewasters," said Duxbury.
"We can't afford not to take everyone seriously and we don't want to miss an opportunity and you have to deal with everyone that presents as a prospect.
"Particularly frustrating are those contacting the press instead of the legal teams involved."
While potential takeover progress seems to have stalled, Duxbury says there is plenty of work going on behind the scenes to get a deal over the line.
Although, she has confirmed that Raj Singh and Jeff Stelling are, at present, the only team in town.
"It is difficult to remain focused for all the staff with the current uncertainty around the club," said Duxbury, in her programme notes..
"But everyone is going about their jobs professionally and we are all working towards a new owner coming through the door.
"There is an incredible amount of work going on behind the scenes to keep us going and to get a buyer completed.
"The consortium has made great progress and is the only buyer to date."
Pools were put up for sale by Sage Investments and John Blackledge in December.
The owner has held talks with a number of interested parties, including prominent Hartlepool businessman Chris Musgrave, who pulled out of talks having reportedly become concerned with the information, or lack of it, provided by Duxbury and Pools.
As things stand, club president Stelling, backed by significant funds provided by former Darlington chairman Singh, have an agreement in principle to acquire Pools from Blackledge.
FULL STORY: Jeff Stelling grows frustrated at lack of Hartlepool United takeover progress
But until further funds are raised, around £600,000, and legal action against the club is resolved, the bid to take over has stalled, much to the frustration of Stelling.
Speaking in the Mail, Stelling said: "It has been very difficult to gain any momentum.
"Business deals are not really my thing but to me it appears as if progress has been at a snail’s pace. I don’t blame anyone for that but it is frustrating."