Maybe they are expecting rapid growth? But even then I do agree that going to the NZX main board with only $11m market cap is a bit ambitious, I am worried that the extra compliance costs could increase costs significantly (but I am not sure so thoughts on this would be much appreciated).
I suppose extra exposure the NZX main board has will mean people look and track the stock more? more liquidity?
I still think GEO has great long term potential, just needs a bit of time (like PEB and XRO)
(Disclosure: I don't hold, but close people to me do)