And the bad news is I went to the company's website to see how far along they really are. It's turns out the company is tiny (looks like 6 people total), its milestones are extremely aggressive, they don't have full funding yet, and looks like they'll already be missing a major milestone at the end of this month. They're still at the initial prototype stage with said prototype having only two components out of the number shown in the video that have worked successfully.
Don't anyone hold their breath.
Still, if the company can actually get a working marketable product and the right price point, it could sell like hotcakes and make wristwatches obsolete. And, oh, the military applications...
