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.
Yes but it's counterproductive for them to not have it developed on time.
See, if they are holding Checkcoins and actually worked on the software, then the price of Checkcoin would rise. Win for them and a win for investors.
Let's say the software was release last month, would the price be this low? No, it would be a lot higher, which they could have sold their Checkcoins for BTC.
This makes me believe that they are not holding any Checkcoins. ATM it seems like they couldn't care less about the price of this coin.
Also, isn't the whole point of having an IPO is to raise capital to start the project? Shouldn't they have sold the BTC for fiat once they acquired it from the investors?