The Nottinghamshire businessman sent alarm bells ringing on Monday evening when he removed the phrase 'Notts County chairman' from his Twitter profile's biography.
On Tuesday morning, Hardy wrote on Twitter: "Really sorry for the radio silence. Still trying desperately to structure long term financial security for this great football club."
Around the same time, BBC Nottingham Sport reported that the "delay of Notts County takeover is due to a £1m loan the club arranged some while ago with trustees of Haydn Green estate.
"The issue regards repayment of the loan. Lawyers for Mr Hardy & Mr Trew spent yesterday trying to find solution, but without success."
When advised on Twitter to prioritise club communications over the social media platform, Hardy replied: " In hindsight, you're prob right, I'll refrain in future. We never envisaged this snag, hindsight etc."
In reply to a fan who said Hardy was the only option for the Magpies, he said: "Believe me, I have only one item on my To Do List today!"
The takeover of Notts was meant to take place on Monday as Hardy earmarked the Nottinghamshire derby against Mansfield Town as the first game of his tenure.
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