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Crowdfunding complex hardware is risky business, and it seems that risk is something backers of the Kreyos Meteor smartwatch are becoming all too familiar with.

The Kreyos smartwatch (red flag #1) began as a flex-funding campaign (red flag #2) on Indiegogo (red flag #3) in July of 2013. After raising $1.5 million – $1.4 million more than their original goal – Kreyos set to work creating its seemingly well-funded, purportedly unique product.

Utter Failure Of Kreyos Smartwatch With $1.5 Million In Backing Shows The Continued Perils Of Hardware Crowdfunding was written by the awesome team at Android Police.