Martian Watches is halting mVoice G2 smartwatch shipments amid a shutdown of the company, though it’s import to note that this applies to remaining shipments as some who had backed the device have already received their watches, and according to Martian Watches this amounts to about 480 units in total that were part of the first batch of units that were to be sent out to backers via the Kickstarter.
Martin Watches doesn’t mention how many backers there were total or how many remaining there were that hadn’t received watches yet, and at the moment there is no details regarding whether or not those remaining backers will be compensated for the watches that were paid for. That being said it’s possible that no refunds will be issued as Martian notes that it has no funding, which means it can’t pay back the Kickstarter backers at this time, and since the project couldn’t be completed it’s also possible that those remaining backers may end up not getting anything at all. However, any backers who hadn’t received a watch may still want to look out for any future announcements from Martian as refunds may still be in order down the line when and if the company is able to provide them.
For Martian Watches, the first order of business will be to liquidate any leftover assets that it has yet to unload, which will allow it to pay off any outstanding debts to creditors. From the sounds of the official statement it seems that will be the company’s first goal. The first units of the mVoice G2 watch were sent out back in April, so the shutdown decision appears to be fairly recent following the inability to secure additional funding for the continuation of the project that would allow Martian Watches to finish building the remaining units and send them out to backers.