Because CEO Dave is such a great Buddy and he wants us all BUDDY...

Because CEO Dave is such a great Buddy and he wants us all BUDDY holders to be happy

The key reason is that they are able to raise funds without a higher amount of dilution to the main stakeholders of BUDDY compared to typical venture capitalist for startups.

Also, listing in NASDAQ has higher requirements and cost involved is more significant if I'm not wrong.

Adelaide probably due to Dave's familiarity and he graduated from University of SA and have a rather close relationship to SA Premier Jay Weatherill.