Do not think new rules are an issue as this has been going for some time under an existing MOU.
@ryobal I have the Market cap at 31mil but the enterprise value will be 23mil (on a full subscription). This is only palatable on the basis that Gridcomm shows that they are making sales progress.
You will also find cornerstone investors more likely to invest in a listed than a non listed company as there will be liquidity.
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