actually, they have working product. XPOS is really working product and has been sold in some country in south east asia like indonesia, singapore, and malaysia.
Well the latest press release shows they have them in a chain of 40 retail outlets in Venezuela and some other places too but where is the profit for the Pundi X project and where is it being reflected on the NPXS and NPXSXEM token price?
Press releases yes (albeit I haven't seen any visual proof of these implemented systems - referring specifically to Venezuela). There were tweets from verifone themselves claiming successful integration. But To manufacture/deploy these devices takes time + expenses, the revenue would be mostly to verifone from the merchants using the system. PundiX itself would not be making any profits from actual crypto payments made at these POS devices unless they were charging a transaction (developer) fee at the time of sale separate from normal operation of using pundix.
This is why I had said previously it's possible devs may have liquidated some of their ICO funds. But we could better determine what's going on if there's a known publicized developer fund address where the public can follow the trail of their money flow from the original crowd funding.
EDIT: unfortunately, regulation is still in its infancy in this space. but if it were tightened up a bit they would require ICO/startups to provide detailed accounting sheets of their crowd funds and how their investors monies are being managed.