My First Deal here ,I hit sorta a snag

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I put a Duplex under contract a few days ago here in Longbeach Ca,and I was to put the EMD in escrow within 72 hrs, But I couldn't make the Dead line.( I Couldn't Find The Money )My question is , Is the Contract still Valid ? I'm having a sitting with the owner tomorrow and he's going to ask why I haven't deposited the EMD.What can I do ?

What’s my Opinions ?