I participated in the cryptassist ICO a few months ago, and I chose this out of the many projects I could have done the ICO, but still no listing.
This is because of the market, but I strongly believe that if the project is good enough, the team should not be scared of listing
A problem with many ICO's but with different reasons.
There may be a time that you will thank them for being not in a rush to list their tokens.
Participants wants to sell in haste therefore it could ruin the real ICO price. What is more? Traders will start playing with the price then suddenly leave it dumping everything they got.
Investors end up being disappointed with this kind of events and so they back out. There are small investors too who would rush to sell.
If I were you, I would ask their team first for what reasons into why they are listing. If they are not doing what is in their roadmap then you members should be to notify them that they are already late into listing.