If a large scale corporation saw great value in this technology,...

If a large scale corporation saw great value in this technology, but also acknowledged that the IP was owned by a company that is in a financial death spiral nearing its end, the smart thing to do would be to dangle the carrot of a non-binding future partnership and lock them into a deal prohibiting them from going into negotiations with any other competitor for a period of time. Say, a term of around 2 years.

During this time you are then free to carry out all of your due diligence without rush and at the same time, have the company jump through which ever hoops you like...for instance, have them carry out trials and demonstrations within various geographical locations so you can further gauge market reactions to the technology, at their own expense of course and funded by retail investors through capital raising & borrowing against existing assets.

When the time is right and after proper financial modelling / market analysis has been completed, this small Australian start up in severe financial duress can be bought out in its entirety, the WaaS plan can be thrown out along with the coaster it's written on and the technology can be put to work on the free market.

If only there was such a corporation looking at them.....oh wait...