I think the biggest problem is this:
Compliance: We are advancing with our legal advisors to set up the most convenient legal structure to launch the platform. This is taking much longer than anticipated.
That may be the reason why it takes so long
I don't think the demo takes 6 months. It takes about 1-2 weeks for such a demo.
I invested a lot and i think it will work. Good things take their time.
But little more transparency would be good
They got 21 M with a project that cant work, you cant ask for transparency. Good thinks take time, seeing disapering all your money takes time too, that is the most probable outcome.