Ryno motors returns deposits

Once upon a time there was a company called Ryno (http://rynomotors.com) making an unusually cool sort of electric unicycle. Their design cues come from motorcycles, not unicycles, which makes a big difference.

It exists, see.

It exists, see.

However they found production to be difficult, so on December 3, 2014 they said

We did make substantial progress with our product development during the year. We were able to develop quality pre-production units that ride beautifully and safely. However, we were also hoping to refine and cost reduce our mechanical design during 2014.  Unfortunately this was not accomplished, and this means that our plans to ship units in volume through dealers (at our original target price) by the end of this year cannot be met.

And they returned customer deposits!

Haven’t these guys heard of kickstarter or indiegogo, or frankly our entire financial system in 2008? The new American way is to fail but keep the money. If the executives at Ryno want to drop us a line, I am sure we can provide valuable management consulting on this point.