Sentry agreement timing, page-489

SP high since RTO 9.5c on Dec 14th 2016
Current SP 5c - 4 month down trend and almost 50% down from high
MC at 5c - $80 million
MC at 9.5c - $152 million

IAM tried to stem the tide with this announcement
https://hotcopper.com.au/threads/ann-trading-halt.3261131/#.WOL77fl96Uk
on the 28-2-2017

The exact wording was:
"pending an announcement by the Company regarding execution of a material commercial agreement with a leading financial entity."
SP was 5.9c

Then on the 1-3-2017 they announced an MOU with NAB
https://hotcopper.com.au/threads/an...-nab-financial-planning.3265796/#.WOL9tvl96Uk

The exact wording was:
"Intiger Group enters into a Memorandum of Understanding (MOU) with National Australia Bank Financial Planning."
Huge debate erupted over an MOU not being a material commercial agreement - SP closed 6.3c
I agree an MOU is not imo a material commercial agreement

2 days later on 3-3-2017 at IAMs request trading goes into suspension (voluntary suspension)
The exact wording was:
"The voluntary suspension is requested pending finalisation of a release to clarify the ASX release made by the Company on 1 March 2017."
IAM want to clarify the announcement they made on the MOU with NAB as a result of denial by NAB of any such MOU as reported by IFA here:
https://www.ifa.com.au/news/17492-nab-financial-planning-mulls-overhaul-of-advice-process

Then on Friday 3rd of March 2017 after close at around 6pm they release 2 announcements:
https://hotcopper.com.au/threads/ann-intiger-group-clarification.3273668/#.WOMBwvl96Uk
and
https://hotcopper.com.au/threads/ann-asx-aware-letter.3273677/#.WOMCIvl96Uk

The first is the clarification and in the first page it backtracks on both its previous price-sensitive announcements. First it admits that the claim they had made in the TH that they had a material commercial agreement with a leading financial entity was false, their exact wording:
"The Company wishes to confirm that the payment in respect of this initial pilot program is immaterial"

And secondly it admits there is no MOU which is the price sensitive announcement that it gapped up on open from 5.9c to 7.3c then line wipe up to 8c before the smart sellers came in and it closed at 6.3c.
To clarify there was:
1. no material commercial agreement - they admitted it was immaterial
2. there was no MOU (as correctly stated by the IFA article as clarified by NAB themselves in that article - despite the source of that information not being disclosed) - it was infact an SOU, and a summary of understanding is a very very long way from a "material commercial agreement with a leading financial entity"

The second announcement on that friday aftermarket was the ASX aware letter. Page 4 of that announcement is the start of the letter IAM received from the ASX on the 2nd of March while they were in a TH pending clarification of their 2 previous price sensitive announcements, the material commercial agreement and the MOU. It is basically a 4 page drilling seeking clarification from
Dale Allen
Senior Adviser, Listings Compliance (Perth)
ASX

This ASX aware letter and reply is imo the most critical piece of information on the company to date. I believe that the SP hangs on a precipice because of it and that as a result the risk here is much higher, I believe trust has been eroded and communication has gone from transparent to murky.

I cannot understand why IAM chose this path, can it really be explained as simple over-exuberance in the wording? Are seasoned financial industry veterans really capable of that?