We’ve previously documented Advance Nanotek’s public criticisms of stock exchange operator the ASX. This time last year the suncream ingredient group’s chief executive, Geoff Acton, threatened to quit the bourse in protest at perceived injustices perpetrated against it.

So we could hardly believe our eyes this week to see Advance Nanotek is using its ASX listing to raise $4.7 million from investors, with $935,000 of the proceeds used to make loans to employees to purchase shares on market.