You think so? My mind went to your project when I saw the OP. I heard second-hand that you guys were showing off a prototype at Google I/O which consisted of the watch casing with a display connected to external (not yet miniaturized) electronics. This seems to fit Kickstarter's new regulations. Would something like this not have been possible before you got funded?

The reason I felt comfortable backing guys is because you guys had already delivered a product to market. A description or early prototype demonstrating what you were trying to make - almost exactly what I had pictured as my ideal smartwatch before you launched - and my wallet would have been open.