Ossic X Headphones Bite the Dust $6,000,000 in Kickstarter and Indiegogo Funds go Missing, by Richard Sisk

Ossic X we hardly knew ye…
A Very Sad Goodbye (To your Money and Mine!)
“Hello Backers (Suckers!”),
It is with an extremely heavy heart that we must inform you that OSSIC is shutting down and will be unable to deliver the remaining OSSIC X headphones.
The OSSIC X was an ambitious and expensive product to develop. With funds from the crowdfunding campaign, along with angel investment, we were able to develop the product and ship the initial units. However, the product still requires significantly more capital to ramp to full mass production, and the company is out of money.”


By the way the “Initial units” that they shipped number 80, based on the number of Exclusive Innovator/Developer Packages listed. Let’s see now, $6,000,000. divided by 80 = $75,000 per set or a new worlds record for the manufacturing cost of a set of headphones! Way to go OSSIC!

Well I for one, would love to know what you did with my money and the other backers who collectively funded you to the tune of $2,800,000 on Kickstarter, and another $3,2000,000.  funding you raised on Indiegogo.

Of course, Ossic has a long list of excuses which can be found here: https://www.ossic.com

Frankly I expected as much, having Emailed the company repeatedly with no response whatsoever in the last few months. Apparently, its a whole lot easier to make money with a good crowdfunding campaign than it is to actually create and manufacture a real product. This is the third time I have supported a crowdfunded project and I have yet to receive anything useful for my misplaced enthusiasm. No More! I will never support a crowdfunded project again under any circumstances!

To be fair, I think they may have had good intensions, at least in the beginning. However how they managed to waste or lose or misuse the nearly $6,000,000. is beyond comprehension.

In my opinion, either these folks are completely incompetent, or are pretty well organized criminals. Frankly I hope there is an investigation that leads to criminal charges and convictions.

As an Ambisonic Audio producer, I needed these headphones for my business and was looking forward to receiving my set.  Obviously I now need to find an alternative product, and pay all over again. Thanks Ossic for deceiving so many people and congratulations on raising nearly $6,000,000 on Kickstarter and Indiegogo.  How much of that went into your new cars and houses?