I'm shocked that the kickstarter made $59,000 above it's goal and that wasn't enough extra cash to complete the project.
That's not exactly how it works.
If you're dong a Kickstarter Product it doesn't matter much if you make more than your goal. If your Rewards are mainly the product itself, then the more you make the more you are spending.
Not at all.
Let's say the plan was to produce 2000 iCP2s. The calculation was that 150K USD would be needed for those.
I've no idea what his quotations for the mould, etc. was, but let's assume the mould was 60K USD.
Once the mould is done, one case costs about 4 USD.
For 2000 iCP2, you'd need 60K USD for the mould and 2000x 4 USD for the cases, so a total of 68K USD. The case for one iCP2 would cost 34 USD.
For 1000 iCP, the cost would be 60K USD for the mould and 1000x 4 USD for the cases, so a total of 64K USD. the case for one iCP2 would cost 64 USD.
That's the case, but it's the same for the PCB.
So getting 50K USD more for the Kickstarter campaign would mean the costs per iCP2 would be a lot less, so the profit is higher.
Within these 150K USD from Kickstarter, there should be at least 20 - 30K USD just for safety in case something goes wrong (at least, that's what I would do).
In fact, the real production price per Pandora is lower than the one I calculate with - just to be sure there's always money in case something goes wrong (like with the LCDs).
We have no idea how Craig calculated, but with 50K USD more than originally needed, he should have quite a high safety margin here.