GMVD closed overnight at $1.78, equivalent to ASX 2.8c (for...

GMVD closed overnight at $1.78, equivalent to ASX 2.8c (for context, the company delisted at 3.9c.)
ATL.
MC now under $25M -- quite an achievement for a company that raised $15M by IPO this year, and hasn't spent any of it.
That implies all the assets apart from cash are worth less than $10M. Not much IP.
What exactly was the point of delisting again? Apart from avoiding further ASX scrutiny? And seeking to never mention China again?