Here's where the company behind the Zano mini-drone squandered its Kickstarter cash

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The company behind the Zano mini-drone project that raised £2.3 million on crowdfunding site Kickstarter has revealed where it squandered its money and apologised to those that backed the idea, the BBC reports.

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Torquing Group, which imploded spectacularly last week, published a pie chart showing where the money was spent.

The chart is quite hard to read but it reveals that most of the money was allocated to these four areas:

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  • 46% - Stock and manufacturing
  • 14% - Wages
  • 9% - Purchase taxes
  • 5% - Kickstarter and payment fees

Zano spending

Torquing Group Ltd

Torquing Group claims a large portion of the funding was also used for developing the Zano prototype.

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"Ultimately these upgrades coupled with delays caused by the creation of a bespoke and automatic testing rig had significant financial and timeline impacts upon the project," the Torquing Group said in a statement seen by the BBC.

"We would like to make a sincere apology for the understandable disappointment felt by all of those that have supported the project," Torquing Group added.

The Zano mini-drone was a good idea: a drone that can fit in the palm of your hand, with sensors that help it automatically detect objects and follow you, along with a camera mounted on the front. No piloting skill was necessary.

All in all, 12,075 people backed it (at varying levels) on Kickstarter, with the "first edition" version going for £189.

Kickstarter sent a message to backers of the Zano project, saying: "Like you, we're extremely frustrated by what's happened with this project."

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The company said it plans to"co-operate fully" with Trading Standards within Pembrokeshire County Council.

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