Agreed. They can start so long with the money they already have, and thus they will have a few MMUs up and running by the time the ICO ends.

But I guess it is difficult as to who gets the funds raised then. When is the cutoff date to make sure you get the rewards of the MMU they build now? Surely those rewards must go the first couple of investors and not the later ones. This just complicates things, and I think that is why they are holding off until after the ICO.