Lee Johnson has confirmed that there will be no incomings or outgoings at Sunderland today - but predicts that there will be transfer action to come in the final week of the window for the Black Cats.
The Wearsiders have completed just one piece of incoming business so far, with Forest Green Rovers midfielder Carl Winchester - a player Johnson managed at Oldham - joining the club.
There's only been one outgoing as well, with Morgan Feeney being allowed to leave the Stadium of Light after a brief spell, with the young centre-back heading to Carlisle United.
More important than any transfer business though is the need for the takeover of young tycoon Kyril Louis-Dreyfus to be completed - with the club confirming that a deal was in place on Christmas Eve for his arrival.
Some four weeks later and that's yet to reach a conclusion, and it's safe to assume that with no new funds being provided, Johnson's initial transfer plans will not be coming to fruition unless the takeover gets over the line in the next few days.
The word from Johnson himself is that there is 'no update' on the transfer front - as posted by James Hunter of the Chronicle, but he expects things to 'hot up' from now.
Quiz: The top 16 Sunderland record player departures – Which club did they join though?
That could mean a few things - the Dreyfus takeover is very close to being confirmed by the club, or that Sunderland fans may have to wait a little while longer but in the meantime Johnson can still push on in the final week of the window to pursue some of his target.
It's definitely a squad that needs freshening up on the basis of their latest loss to Plymouth, with another striker to assist Charlie Wyke probably high on the agenda.
The Verdict
The last week and a bit of the transfer window will more-than likely come down to the length of time it takes for the transfer of ownership of the club to get sorted - something which will no doubt be frustrating Johnson in the background.
It's evident that new blood is needed to reinvigorate the Black Cats' promotion charge, and whilst there has been promising signs so far, it won't be enough to last until the end of the season.
There is still promise in Johnson's words though that things will be 'hotting up' in the next week, but Sunderland fans have been disappointed a lot in the last few years - so it's doubtful that they will be even expecting much to happen.