not seeing your point here? their investment was rather large already and you dont want them to take too large an ownership of the company.
There's a few reasons to list:
1. So the directors who have put their hard work and money in can get some liquid cash - fair enough 2. The initial investors can get their investment back, they aren't going to keep throwing more money in if they cant see tangible growth - after all thats why you invest into tech companies at start up stage. 3. Yes they needed funds to continue to their research and development and expansion, again not seeing an issue 4. Brand recognition - they want to be taken seriously internationally with a hope of landing some of those contracts for nuclear plant decommissioning? then an ASX listed stock sounds a little bit than a small private company
I'm all for both sides of the argument here but you are being a little biased.
PS - sometimes directors do need to sell for personal reasons, you have no idea the situation is. PPS - we already know the Quarterly isn't going to show any/much revenue as they have outlined multiple times its because they moved revenue structures and have been focused on getting it right rather than going out and trying to sign up a buttload of customers and then finding an issue.
Overall excited with the tech and can definitely see the potential here but hold for me at the moment as looks to have plateau'd, see how they go with the WaaS model for first few clients then could be game on
(20min delay)