Here's the latest "wow it gets even worse" update for today:
We are really working now. After the campaign ends things will go faster as we will start working with many other experts (partner company), which have a lot of expertise and resources in engineering.
Also keep in mind that this project is safe and backers shouldn't be afraid losing their money. We've already got all agreements according to which the investing side covers all risks and expenses. Even if we manage to produce the device which would be so much high quality that its cost exceeds the funds from backers, we will do it anyway and there will be no issues in financial part.
We hope for your understanding the situation.
The main task of our team before working with the manufacturing factory is to deliver you the concept and to prove that this idea is worth implementing. We've done it, even in this raw form. After this campaign ends the development of internals of finished device will be a responsibility of a large team of professional engineers (much larger than now), while we will thoroughly monitor the quality of the process.
Okay, let's look back a minute on PGS's history.
1) Promote upcoming hardware on forums, claim they won't be needing Kickstarter, despite that produce a very Kickstarter-oriented promotional video.
2) When video gets distributed, claim it's because some "asshole" did it against their wishes and that somehow it convinced the investors that they needed to do Kickstarter.
3) They do a Kickstarter using a slightly modified version of the asshole video. In it they claim they had to crowdfund because they had irreconcilable differences with the investors, while simultaneously saying they still have investors.
4) In the Kickstarter comments, claim that they couldn't get investors because they all wanted an Android device with actual margins.
5) Which brings us to today: the investors are willing to take on an infinite amount of risk in covering any possible KS funding liability. So PGSLab could spend all the KS money on hookers and blow and the investors will still pay for whatever it takes to make the units exist, or at least give people refunds. So no need to worry backers, you're taking on zero risk!
Conveniently, backers only receive this assurance halfway through the funding period when people have started to cancel their pledges in droves.
My conclusion: the investors probably don't exist. Their story has been too inconsistent and implausible. No one would agree to the incredible terms they claim.
Maybe backers who still believe in this project should start demanding the investors show themselves.
"Also keep in mind that this project is safe and backers shouldn't be afraid losing their money. We've already got all agreements according to which the investing side covers all risks and expenses. Even if we manage to produce the device which would be so much high quality that its cost exceeds the funds from backers, we will do it anyway and there will be no issues in financial part."
Is that contractual when said in Kickstarter comments? Is there any lawyers in this forum?
I could definitely see these comments making their case worse if they're ever brought to court after failing to deliver.