Answer: We didn't use any of this fund to sponsor any other products. And actually, we use the other products' profit to keep Wave project ongoing. Few important facts should be well explained here.
First of all, please know that the $1.6M USD shown on Indiegogo campaign is not 100% directly related to Geek Wave project. There is Geek Source music server, Pulse DAC combo, Headphone holiday sales of Hifiman, Audeze, DSD music download, USB 1G/2G Cable, and IEM-X, Vibrato earbud... there. In order to get the exact number, we downloaded from Indiegogo backend and remove all the none-wave-related perks in that Excel. The overall number and funding we got for Geek Wave development and manufacturing is $680,869.28 (After 9% deduction from Indiegogo's commission and Paypal's transaction fee)
For a big project to develop a super high-end portable player, this $680K+ is really not a lot and we always carefully using it. There is no room to sponsor any other products by this fund.
Second, there was a rumor for our company use this fund to buy a Tesla Model S to develop our Tesla Audio System. The time line of Light Harmonic's purchasing of that Tesla Model S was in 2013 year end. And Tesla Motor delivered that car on early of 2014 which is 6 months BEFORE the Wave campaign.
Again, we are truly sorry that the Wave project has been delayed. We will have more detailed answers for the schedule related question. Again, any rumors that we spread the money to other places are false. All we did is keep pumping more resources into this project to get this done!
Thanks,
