Ann: AMX's New Aerial Mapping Technology for Bushfire Mitigation, page-18

I would agree with your assessment. The first tranche coming out of escrow were the most likely to come to market and that occurred in June 2020 so any influence on price by them has come and gone. I was one of the original convertible note holders and subject to the June 2020 escrow tranche for half my holding. I do not remember anything in the leadup to the IPO which stated that the founders were looking to go public so that they could get a return on some of their input. It does not say that they will not cash out on some but often in an IPO investors are advised that the company is going public so that founding shareholders can cash in some of their input.