Looks like they want to give some away for someone else to test it.

Good business model: Raise 1.1MM. When done, flip old bicycle over, weld and old gunked up lawnmower engine to frame, install two RC propellers, extend chain and connect the whole shebang. Send that prototype to someone who wants to build free multi engine time (might need two lawnmower engines)for testing.
Ship postal ground! You'll be retired on a nice Finca in Cuba when the lucky owner hits the news or gets the Darwin award.
Just kidding, this thing looks pretty swift. Needs floats, though...