XPE Lounge, page-3310

That may be the perception but these 'good tech guys' are not complete novices in successfully commercialising previous ventures:

Chris Wood
Executive Director / CTO
Chris has extensive experience in large telecommunications companies developing mission critical software applications.
Chris has architected projects worth up to $200M and supported by a pool of 200 IT staff. Chris is a domain expert in the areas of GPS, inertial sensors and communications. Chris also possesses substantial technology development commercialisation experience.
In 2003 Chris founded Neve Technologies Pty Ltd, a company which developed and commercialised an augmented GPS system for positioning vehicles in areas where GPS signals are severely degraded. In the commercialisation process Chris established a joint venture with the University of South Australia. Neve secured COMET funding, raised capital and successfully commercialised its technology internationally.

John Schultz
Executive Director / Head of Engineering
John Schultz (B Eng. Uni of SA) is a serial entrepreneur founding and successfully growing several companies over the last two decades specialising in the design, manufacture and business development of electronics systems.
John has a wealth of experience running design and manufacturing businesses, managing staff and subcontractors and secured significant international business exporting vehicle immobilisers to Malaysia for aftermarket distribution and direct fit to Honda.
This contract saw a peak of 30 employees locally employed and managed at Technology Park. John’s involvement was system specification, design, product design and manufacture, resource management and developing initial commercialisation opportunities

And finally here's one from the 2015 archives justifying the RTO:

Xped chief executive John Stefanac, who was formerly in senior roles at Qualcomm and Nokia, said it was doing a reverse listing because it was the best way for the business to access the necessary funds to commercialise the product. (my bolding)