Originally Posted by
Flimbs
Hey Jur and other Helix backers,
I'm dying to know what the 12-24 update (#14) said...if there was one. Or did you already provide a jist if it up top? I created an account just to bump this thread!
I've been following this saga with great interest, ever since I saw the campaign online, after the project was closed and funded. I'm rooting for the backers to get their bikes, and also rooting for the company to deliver on its promise. I'm in Toronto as well, so if I see the creator around, I'll try to get some direct updates. Lol
I also hope he pulls it off but unfortunately it is looking less likely with every update.
At one stage during Q2 of this year he reported and showed pics of a shared factory space with a company called WITC; since then the bike & process has undergone several redesigns and the partnership with WITC was dissolved for reasons unreported. He presumably was kicked out and had to start all over with setting up a factory himself. That seems to be in progress but the huge cost of such an undertaking is going to cause cash flow problems pretty soon in my estimation. The 1000-odd KS bikes are barely covered by the amount raised let alone setting up a factory from scratch. So while I was optimistic initially while he set up a partnership in manufacturing, his going it alone has set off alarm bells in my head. If he can't raise more money soon, he won't make it. It's easy to see that parts & labour might have been covered by the KS fundraising but not that plus setting up a sophisticated factory with automated equipment.
So I for one have stopped holding my breath. It's very unfortunate but no longer a realistic hope without more investors. Production of KS orders can't start until 2017 Q2 and I don't see how the pile of money will last much beyond that. We don't have any evidence that it will or won't, just common sense.