An offer for refund has been given to the backers of LVL, the hydration technology device, because of their crowdfunding page on Kickstarter. Few of these backers have already gotten their cash back some months ago but there are still some left who are waiting to receive their money back.
A company of wearable sensors based in Austin, Texas which goes by the name of BSX Athletics managed to raise over 1.2 million US dollars in a crowdfunding campaign on Kickstarter during 2016 for a product they were supposed to develop by the year 2017. Its delivery was promised to start during the same year as well in the month of June. This all just turned out to be unfulfilled promises and lack of response to the comments of supporters on the page.
This all lead to a series of just financial and acquisition complexities and no signs of any development of the actual product. After many twists and turns in the story, the supporters of the campaign were offered two choices. One of which was a full return of their funds while the other was to receive an upcoming product on priority basis. Most of the backers went for the second option. But it did not just end there. Some of the backers were provided with their refunds and this went on for quite some time until the entire scheme came to a halt. This again stacked up around 4000 comments on the kickstarter page.
A few days back, the supporters of kickstarter campaign received an email which reads
“We hope this email finds you well and we thank you for your continued support. We understand that a significant amount of time has passed since our last communication and we would like to take immediate action to rectify the situation. We are sincerely sorry we were unable to fulfill your order and will be issuing refunds upon receipt of your email confirmation. In order to receive your refund, please confirm that the email you provided is associated with a valid PayPal account by logging into Paypal and verifying the account email. Due to the time that has passed we are only able to offer refunds via paypal. Then respond to the following survey…”
These words do manage to stir up a little hope. All we can do is wait and see how long it will take the startup to bring their vision to life.