The Gnome Underpants have arrived!
Apparently RCL doesn't understand what a business plan is. They seem to have missed the part where you need an actual product design, or at least something more tangible than the vague notion of what it might be, before you seek funding and make promises to build it.
To me it looks like a bunch of clueless amateur retro gaming enthusiasts secured capital without anything even remotely resembling any forward planning, then sat on it for ages whilst doing essentially nothing. With all that money just sitting around for so long, it was inevitable that the cookie jar was going to end up being raided for "business expenses", where the only "business" being conducted was personal shopping sprees and piss-ups.
So now, with no money and still no product design, and the law breathing down their necks, RCL has slapped together something that could have been constructed by a 7 year old in the Raspberry Pi Club at school.
This is way beyond unprofessional. It's criminal fraud, and RCL's directors (assuming it even has any) should be prosecuted.