Ann: Corporate Update, page-4

I agree with your comments. Start up companies usually begin by selling an idea to investors to help realise the concepts. Usually along the way, there are several iterations of steps to prove the concepts and create repeatability of processes. There is a lot of R&D that goes into each steps as well as identifying consistency of support from suppliers, not to mention potential confidentiality agreements, negotiations on pricing, confirmation of quality parameters, etc., before anything is actually produced that appears in line with the original concepts.
Bravo to the company and all the players - including the investors - for sticking at it and helping to prove the concept, attract potential buyers and create something that is sustainably profitable.