They are not handing it over to someone else. They are creating...

They are not handing it over to someone else. They are creating a Special Purpose Vehicle (SPV). Giving away 52% of the "asset" for $1.

The purpose (as per the announcement) would seem to avoid the scrutiny of being a listed entity and apparently have better access to taxpayers' money.

Have dealt with this company professionally since early 2019. Was promising at that stage. Since 2021 clearly a mess with both outgoing CEO and outgoing CSO who will run the new SPV of dubious quality in my opinion judging by my experience.

Be interesting to see if this announcement allows it lift the suspension or is there more "good news" in store for holders.