Ann: 2019 AGM Presentation, page-7

It is pretty common to file a "placeholder" patent as well. One that roughly defines the idea to map out the IP space but without much detail or commitment. Often followed up later with the real deal or part one of a series of metered out patent claims to hold and protect the IP as it grows.
Some companies write patents about anything that might be protect-able until they have weeded out the dead ends and non-inventive variants. This allows them to have the earliest priority date (filing date here in Aus) on the winners.

You are probably correct about the filing timing and IP capital valuation aspect for IPO though.

Some might say this showed some commercial savvy which seems to be a little underwhelming of late.
That said if it goes below 20c I might get a few more to dilute. I expect that some of the Fundy note holders were happy to convert in the last CR to average down so they could avoid a NAV "haircut" on their original investment in MX1.