Is a ring intermediate formed in hydroboration? This was the mechanism taught to us for hydro-boration



Something really strange in that mechanism is that in step 2  hydrogen has two bonds.
Also , the  the doubly bonded $\ce{H}$ , has one bond $\ce{C-H}$ which contains no electrons 


Is this mechanism plausible? 



In clayden they have shown the cleavge of $\ce{H-B}$ bond  and formation of the $\ce{H-C}$ bond in the same step.  
But it doesn't mention the formation of a ring anywhere.




Section 1
Let's assume that the ring does form but after cleaning the $\ce{H-B}$ the electron pair goes into the bonding orbital of H not the anti bonding molecular orbital between $\ce{C-H}$ .



Primarily my doubts  are 


The bond with no electron in it (does it actually form)
The reasoning in section 1 (the previous section).
That should be a transition state, not an intermediate.



Also, there should not be a positive charge on your boron in the final compound you drew.