Kickstarter is a great initiative that allows you to raise funds for the most bold ideas without which you will never see the light of day. Unfortunately, big money attracts people willing to make easy money and the next project that drowned the money is watch CST-01.
The CST-01 is Central Standard Timing’s idea, which started in Kickstarter in 2013 to raise money for an e-ink watch, well known to book readers. This display is not only very readable, it also consumes little power, so it can operate very long on a single charge.
In the summer of 2015 the company announced bankruptcy. In such a case, if the project did not come to fruition, people who supported him financially should get their money back.
In this case, however, the chances are very low. According to company documents, people who have paid for an innovative watch will probably never receive a refund, as there is a high probability that the project was immediately created to deceive all depositors.
These documents indicate that a total of $ 1,026,293 has been collected, but the assets at the time of filing the application for bankruptcy amounted to only $ 30,000. That means that nearly a million dollars somewhere has disappeared.