Fernando Screpis is waiting to join Hearts after talks between his agent and the club's deputy chief executive Pedro Lopez.
Cobian must wait for a decision, however, as Lopez will now consult majority shareholder Vladimir Romanov about the player's future.
"Fernando wants to play for Hearts. He doesn't want another six months in Kaunas," Cobian told the Edinburgh Evening News. "He played in Lithuania for six months, he won the championship, but it's not going to help him progress if he stays there.
"The idea is he comes to Hearts to fulfil his contract, which runs from January 2008 until June 2011. He is now back home ready to come to Edinburgh whenever Mr Romanov or Pedro say so. He has a contract with Hearts, so either they keep him or they send him out on loan.
"I met Pedro yesterday and he said he would get back in touch. Hopefully soon we will have an idea of what will happen. Fernando doesn't have a problem coming to Scotland during December and doing the training so he is fit to begin playing in January.
"Pedro said they will make a decision in a couple of days but Screpis is desperate to come to Edinburgh. He wanted to stay with Hearts in the summer but I think Mr Romanov wanted to try him at Kaunas first. I gave the club the option to bring him over now to train with the team. Another option, as I said, could be sending him on loan but Pedro said he would have to get back to me.
"If they don't want to keep him at Hearts he can maybe go on loan to another Scottish club. Ultimately, he is Hearts' player so they would have to find him another club if they have no place for him."
