Ballinamallard United chairman Tom Elliott says the club have co-operated with the Northern Ireland Football League regarding an issue that arose in the annual club licensing process.
The Championship club have been in communication with NIFL and they are awaiting the football body's next move.
No action was taken against Glentoran after NIFL sought further relevant information and it was assessed by an independent committee.
But the Mallards are still awaiting their fate and the Championship runners-up are sweating on the outcome.
If the Fermanagh side receive any punishment, it could range from a fine to a points deduction, perhaps starting from next season. NIFL could resolve the matter or pass it onto the Irish FA's disciplinary committee if there's a suspicion of any wrongdoing.
Elliott said: "We are waiting on developments. The club have co-operated fully and provided information a few times.
"Initially, NIFL said they were looking for observations and no one likes to be in that situation but the club will be open, with nothing to hide."
A NIFL spokesperson said: "NIFL set up an independent panel to open communication with clubs to understand where any discrepancies lie following the IFA's licensing concerns.
"The Glentoran case is closed. The Ballinamallard one is an open case and there could be further discussion next week."
The league season may have been curtailed but a number of issues need to be resolved before a light can be shone on next campaign.
Institute and PSNI have both lodged appeals, with the threat of relegation hanging over them.
Both clubs are fuming they are suffering the drop following the decision to automatically relegate them when a mathematical formula was applied to decide the final standings.
While the Mallards' licensing probe is ongoing, Glentoran said they were grateful for being cleared, with chairman Stephen Henderson adding: "Throughout this process, we were confident that the independent panel would find as they did, that no rules or regulations had been broken, because we knew that the business model this club is run on is financially sound, legally compliant, sportingly legitimate and above board."
Glenavon have snapped up striker Matthew Fitzpatrick from Coleraine and winger Peter Campbell from Loughgall.
Fitzpatrick has been awarded a two-year deal with Campbell netting a three-year contract.
Robbie Norton, Ross Hunter and Oisin Barr have agreed three-year contract extensions with the Lurgan Blues.
Glentoran, Linfield and Coleraine are being linked with a move for Glenavon star Josh Daniels.