"I don't wait and see with anyone," Coyle told The Bolton News.
"Either you want to play for this football club, or you don't.
"I have not talked to Jeffren or his representatives, so the story makes it out that it's a bit further down the line than it is, but if it isn't going to happen, then we'll move on."
It was revealed at the weekend that Nigel Reo-Coker has been in the North West for talks with Bolton, while deals are also imminent for Burnley duo Chris Eagles and Tyrone Mears.
Former Clarets boss Coyle said: "I think Burnley have made public that the offer has been accepted and they are both very good players who I know well from my time there.
"But they are not signed yet. We still have some negotiating to do.
"I'm in negotiations with a number of players but until they are signed and sealed we won't go making a song and dance about it."