As of Tuesday morning, Jon Favreau is still unsigned for a Iron Man sequel.

“They haven’t offered me anything yet,” Favreau told Howard Stern. “They’re all talking - they want to do it, they even announced a date.”

After much harassment from Stern, Favreau revealed that he made $4 million for the first film and has a NET profit deal which would give him a very small percentage of the money once the film begins to turn a profit. But Farveau says he won’t see any money of that Net profit money for years, if at all. Jon claims that while Elf cost only $32 million to film, and made over $125 million at the box office, the film technically still hasn’t made a profit yet. That’s shady Hollywood accounting for you. Favreau estimated that Iron Man was probably made for around $140 million. And while all the stars of the first film are signed to three films, Farveau admits that doesn’t necessarily mean they have to come back.

“They’re all signed for three but it doesn’t work that way. That all goes out the window when you make $100 million dollars,” said Favreau. “Because people want to have a good relationship with the people they are working with, and if they’re making that kind of money, it’s an understanding that they’re going to negotiate.”

Favreau also confirmed that if he were signed on for a sequel, he is interested in taking on the infamous Demonl in a Bottle storyline.