I've followed Xped prior to announcing the RTO with RYG and my...

I've followed Xped prior to announcing the RTO with RYG and my assumptions are as follows:

Xped Limited were looking at raising Capital prior to RYG using ASSOB in 2015 under an information memorandum up to $3m. Wasn't touched by anyone and having followed other successful investments funded on ASSOB they struggled to get any attention even though Stefanac and founders were all running the show and trying to make headlines in media about ADRC and their technologies.

Along comes RYG mgmt team with proposal to take them on, raise money they couldn't and show them how to market themselves.

So whilst the Company may have been good at R&D they didn't have the calibre to deliver and commercialise which requires large funds and getting interest. Whilst others argue Lekkas has no tech background, its irrelevant IMO as thats not his job especially when the founders have all the technical capabilities and going down their own path were setting up for failure as seen with their attempts to raise money previously.

Lekkas and RYG mgmt at the time would have seen the opportunity to deliver for their shareholders and also take this Adelaide company and showcase it. There was a chance for others to do the same as Xped was an unlisted public company at the time seeking money and had articles in mainstream media but no one showed any interest prior to RYG's involvement.

Remember it was RYG that took the risk to exit energy sector (market conditions probably helped) and go through the re-compliance phase with ASIC and ASX to become a technology company and Lekkas probably worked tirelessly to gain attention in the markets and help elevate Wood and Schultz in the public space.

I'd say the founders wanted to see how well RYG could do in areas they had no expertise, and they probably tipped their hats off to Lekkas after he proved himself and performed the fund raising, marketing and securing of interest in Xped to become successfully listed in April this year. Given he has delivered results to date, including bringing Telink opportunity, Intel and now Despain its likely they thought about awarding him performance shares to keep him incentivised and took an easy approach of handing some of their share pool to him given they already held 25% of stock.

Comment regarding CEO's salary and no other startup has this - did you see 1Page paid their CEO close to $1m according to Fin Review report last year
The Top 300 CEO salaries of listed companies on ASX are paid between $850,000 to $21m

Whilst I wouldn't want to see excessive money burnt for no apparent results, I'd be interested to see what Lekkas and Despain can deliver on in the future as results speak louder than some pay packets (within reason). If Lekkas can't deliver then the board can replace him at any time, the same as they chose to appoint him.