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"The situation has not changed," said Waddock. "I want to improve the squad - it is crying out for right back, for starters - but, like many others, am having to play a waiting game."
Nor is there any news on whether the proposed players' transfer fund, being set up by club press officer Nick Fryer and associates, has been approved by the Football League and the FA.
"There's no news on that front, either," said Waddock. "We're still a couple of weeks away, perhaps.
"It's frustrating. I can't do anything other than assume I won't be getting that money and plan accordingly - and then wait to see what happens."
While Waddock has a few 'things in the pipeline', he still anticipates that he will be working with a small squad this season.
"Yes, I may be able to augment that squad with loan signings but I can tell any youth team players that they will be very close to the first team if they impress in the reserves or for the youth team," Waddock said.
"But, don't get me wrong, I am as positive as I have ever been at this club. Mine and Martin Kuhl's positive outlook will never change.
"Yes, I was a little frustrated with the budget news at a stage towards the end of last season but the club is always the most important thing and it cannot be jeopardised.
"I am getting on with the job and can't wait for that first roll of the ball come the Darlington game [August 8].
"Don't forget that I have a good group of players at this club already, irrespective as to whether we can add to it. The players have already shown that they can perform well at this level, in the Football League."
Any additions are unlikely to come from the triallists who were on show against Alton and Camberley.
"The first two games served a purpose but there is only one player I will be following up my interest further," said Waddock.
The manager added that he had had no offers at all for any of his contracted players.
"It is quiet on that front too," said the manager. "Of course, if we were to receive a decent offer than I'm sure the board would want to listen to it. And, if accepted, I would hope money from it would be made available to strengthen the squad.
"But the bottom line is that there have been no offers for players, so there is nothing to say on that front, either."
To read the full article which includes details of this Saturday's home friendly against Queens Park Rangers, click on the link below:
http://www.gethampshire.co.uk/sport/