If I were legacy investors of APT, I would not agree to give $26MM unless there was a rocket scientist and several really highly qualified experts on the Board that know this sector well
it's not just one investor who put $26 million. It's a group of about 140, if i remember correctly. it's about 185K per investor. though not a huge amount of $$$, investment in that range goes by word of mouth. it's same as the herd of innocent investors you see on this board who just believe the the hype and "follow" their "master".
when those legacy investors got rude awakening about how their dollars are becoming pennies, APT went public and got new group of investors to calm the nerves of legacy ones. i not sure if this fall into pyramid scheme but it seems like one. all IMO, ofcourse