absolutely. I believe taking the money was the right choice, but...

absolutely.

I believe taking the money was the right choice, but it has also exposed Oleg to high levels of criticism. He may not have the skills required to grow the company and it will fall on the board to ensure that they make the right choices for the next phase of growth. As you note, very rightly, companies need to do a significant amount of due diligence and reporting to raise capital. As this was not really considered, Oleg has grabbed a double edged sword with his bare hands.

Without any significant institutional control, and no associate control, the board and Oleg are at extreme risk of being punted.

So either the board will replace him, and Oleg will fall into obscurity, or he will step up before the next AGM, which I suspect he will. The company has all the right parts, and is very well placed, but his decision has had him fly very close to the sun.

To quote one or my favourites, the board and Oleg will now need to nut up or shut up. Because we will destroy them with strikes at this rate and all their hard work will be attributed to another more experienced leader.