Am I reading this correctly that the team is now just Jens Peterssen and the whole Menze family has bailed?
If the project required a certain amount of money you should have set a minimum cap. You did not reach your imaginary minimum cap, which means a) people did not believe in your project and b) most of the team cannot be paid. Investors did not pay for a one man show.
IMHO this project is dead and buried and investors should be refunded.
not bailed. We are still working together and all people are operating as advisors.
Me and my development team is still active and working on the project.
This has nothing to do with not being able to pay people. This has something to do with reducing operating costs, so that we can build this project. The team is still strong enough in order to get everything done. I would have thought that this would be good for you, since we are not willed to spend investment money on unessecary things.