• Torquing Group Dissolution and Zano Drone Collapse: Less than a week after Torquing Group announced dissolution, Kickstarter is puzzled as the British startup and its Zano drone raised $3.4 million in less than a year and then collapsed. Kickstarter is frustrated and committed to helping backers get to the bottom of what happened. It sent an email to the Zano team asking for an update by November 30. If they don't, Kickstarter will pursue an inquiry and share the findings. A Kickstarter spokesman didn't answer questions about the inquiry. Pembrokeshire County Council is also conducting an inquiry. There are no known lawsuits yet. Kickstarter's terms of service only provide general guidelines if a project fails.
• Project Timeline and Issues: Earlier this month, cofounder and CEO Ivan Reedman left Torquing Group due to personal health issues and differences. In January 2015, Torquing Group raised over £2.3 million ($3.4 million) in less than two months through Kickstarter. In May 2015, Reedman promised the drone would ship in July but it didn't. The BBC reported notable problems earlier this year. To date, only 600 of the more than 15,000 drones ordered have been shipped. An American backer, Bill Reeves, spent $340.13 on a camouflage drone and is unlikely to receive it. He received an email from the liquidator warning that Kickstarter backers' money is not a debt or equity investment and they will be refused entry to the creditors' meeting on December 4. The Swansea-based liquidator didn't respond to requests for comment.