Robin, thanks for the write-up on this.
As a journalist who covers the US IPO market, one difficulty that smaller public companies have is getting their ‘story’ told, i.e., ‘coverage’.
Having a simple business model that is easy to communicate and an understandable set of financials will help, especially with retail investors which would likely be the typical investor in these ultra-micro-cap stocks.
Interestingly, a new exchange in the US hopes to compete for new offerings: IEX
Perhaps over time we’ll see it and others move ‘down the stack’ and open up the IPO market for small issuers.