True, we don't know.
But, if Kings were to guarantee the first year, like a typical high 2nd round pick contract, I think it would be done already.
Things would get dicey if the Kings are trying be cute and just do a camp invite or a very low minimum guaranteed money (i.e. $100-200K). For most undrafted rookie contracts, guaranteed money, especially 1st year guaranteed money gets them done.
The Kings should really be looking at Moreland as their 2nd round pick this year, much like McCallum last year.
They get their guy in the 2nd round basically, with Moreland. As apparent from his two-pre draft workouts, I think he would have been their 2nd round target if they had a 2nd round pick. Don't let him slip away over a rookie contract.