This is just my opinion but I think Dan knew what he had to do and was trying really hard to raise the money needed. The Crypto dump took a lot of people by surprise.
But here is what I went through with a few shareholders in talks..
Say you think of everyone you know, friends, relatives, work buddies etc..
Now you ask yourself how many of them are people with over 1 million in net worth not including their residence or have 200k a year in income.
Say you start with 200 people. Maybe you might have 10? 20? left at most? Depends on your circles I guess.
Now you narrow down to those people in that group, which might tend to be older and have saved money over many years , to those that even know what a security token is... You might come up with almost no one.
That is what the problem was raising crypto money. All the people that were rich in crypto were feeling poor and many older , wealthier people sorta got it but dont jump with money for new ideas they do not fully understand
So that left a very narrow band of big players out there any one of which could have funded the whole thing and we had one or a few on the line but nothing yet.
This are just my thoughts, I figure we have nothing to lose at this point just tossing ideas out..
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at