The ICO was not sold out, but the ICO smart contract requirements for the soft cap were met so the project is proceeding. We quarantined the unsold tokens for sale at a later date.
Why did the ICO not reach the hard cap when the project is so good?
The reason is simple. We made some mistakes in the ICO execution. Fortunately the project can proceed and it has the continued support of the founders and key team members. The hard-won experience of this ICO enables the team to be forearmed next time around.