The cake was fine, I've had a piece. The idea was good and can still happen.
Funds got worth less because of falling Bitcoin price, they could not afford a highskilled developer anymore so they look for other opportunities with remaining funds.
That sums it up pretty much. Face the facts like a man. No need to start accusing people.
That is a problem with these companies that needs ICO funds to operate. Why start a coin when you don't have the skills to accomplish your goals? It's doomed for failure IMO.
Maybe you guys should team up with GEO dev?