If your situation looked so dire at the end of November, why were you still trying to get preorders for not yet created coins?  Your post history shows you were taking orders on the site and here up through last month, and made no attempt to be forthright about the situation.  And if you couldn't make the coins from the last design contest, why hold another one?  Then go on saying "this will be delt with, give us some more time" etc.

Theres no way you didn't know you weren't going to be able to pay the contest bounty, or fill all the existing preorders.

You can make all the excuses you want, but that wont change the fact you acted very questionably while knowing things were going down the drain.