I respectfully disagree with your conclusion.
Even if I accepted your line of thinking, he would have been telling you QMC wasn't ready in September, which was true, and he decided he couldn't "hold out" until it was. I don't agree that is says we are not ready today and I don't know his financial situation, so I won't judge his motive.
I do recall that the top 2 Nanoco officers sold about 1,000,000 shares stock each in October at 57 pence. Today's price is 162. What were they thinking? And I bet they are getting a regular paycheck.