After the questioning I was blocked out of the conference while they discussed and then was let back in after the panel had made their decision. The verdict was that they didn't want to pass me right now. They liked my concept, but think that the concept and my images need some work. I definitely understand where they were coming from. They made some suggestions which I think will be very helpful. I will either re-present in summer or fall.
I'm discouraged because it feels the time, money and effort that's gone into this project so far doesn't seem worth it when I'm just going to have to do it all over again. I'm not really sure where to go from here. I know I need to take it one step at a time and keep moving forward. I know my project will be better because of their decision, but at the same time I think I need a little time to wallow before I can move forward. So I'm off to wallow a little more...or just go to bed.