This concerns me as well! I really think you have something amazing here, I see no sense in scrapping the project if you're short 10% of the goal.
It would be a GIANT letdown for not only the community you've built, but the honesty and trust in bitcoin, altcoins and developers in general.
The project won't be scrapped it will be just the TEC that will be canceled and refunded. Not the same thing. There are other ways to gain funds. It would be a waste of money and time to do so (not just our own, but participants as well), but there are other ways.
But again, I think there is little to worry about, there is long way to go.
You say refund, but doesn't the TEC agreement say specifically that there will be no refunds?
https://ark.io/ARK-TEC-Agreement.pdf2.1 Exchange. You agree to exchange, and we agree to sell, on the terms set
forth herein, your Resulting Distribution. Your exchanges paid with BTC, LSK
ShapeShift are final. We will not provide any refunds of the exchange price
under any circumstances.
Even under the circumstance that it's not 100% funded? If so you guys should probably update that agreement.
The whole thing is protection from people like earlier who was demanding we give him a refund for whatever stupid reason. If at the end we decide to give everyone a refund, it's within our right to do so.