Even if I try hard to take this explanation at 100% face value, it at minimum just confirms that even if everything had gone smoothly there was no way Mike Kennedy would have been capable of seeing the project through to completion, let alone making it a success. His explanation is that he was willing to repeatedly drop thousands in the lap of a mystery man who was actively scamming the shit out of him with insulting transparency. What was going to happen to the Indiegogo or Kickstarter money? We'd end up with a Jaguar shell full of magic beans.