I think it may have a parallel to “ambulance chasing” in the sense that P2M are targeting a very specific potential buyer with this discount.
Not saying it’s good or bad in this case, because I really have no idea, but I can see why some people would question the approach.
I don’t know why, but it has that kind of vibe to me but logically it probably shouldn’t. As I said earlier, I won’t be taking them up on it. With the Euro <-> Cdn exchange rate, there are less costly options and there seems to be a strong used market these days.
I had pre-ordered the adapter-type IQ2 power meter in March 2019.
Shortly after that, I received a mail telling me that they will not deliver adapters, but pedals- and they would ask us what kind of pedals we want. I was never asked, and I could not access my account at IQ2 for a while.
After I got access to the account again, I have seen that I supposedly ordered road pedals- which I can not use, all my shoes have SPD cleats. So I asked them to change my order from Road to MTB pedals. They told me that was not possible, I had to cancel my order for the road pedals and order MTB pedals.
So I did just that- since the website looks like there is a legitimate company behind it, and some prototypes were successfully tested by Ray and Shane.
I was told it takes up to 30 business days to give me the refund. It’s been more than 2 months now, I am still waiting for it. When I contacted them, they told me they would ask their “accounting department”.
And after watching the video on how they supposedly make their road pedals I am pretty sure I would also never get the MTB pedals.
So now I have also asked for a refund on my MTB pedal order- but I do not really expect to get my money back.
It would have been nice to get decent power meters at that price. However, if it sounds too good to be true- it probably ain’t 
If you pre-ordered rather than crowd-funding then you should get your money back eventually. Some have reported having to make repeated requests but finally got a refund. Unlike us backers who are unlikely to get anything!
Keep trying.
BTW I got the P2M NGeco delivered and fitted on Friday. It seems to be working flawlessly and P2M tech support reply instantly to any queries about setting-up, something I doubt would ever happen with IQ2 even if they ever manage to make and deliver a pedal that works!
The “accounting department” is also the dude who answers the phone, films the “see how everything is going fine” videos, tells suppliers the check is in the mail and answers emails once in a while. He also programs the “fully automated production line”.
Just claim it on your credit card. They will never give the money back.
Agreed. If after 2 months you’re still waiting just file a dispute with your CC company which will get results.
Don’t know how Dutch consumer law works, but still to be taking ‘pre-orders’ on the website seems … dodgy…
(speaking as someone who placed a pre-order in March 2019 …I might just let this run, or might get cash back from credit card company, not decided yet)
Mannnnn i’m glad i didn’t get tempted by this.
I pre-ordered from the website when Ray and Shane tested a prototype (I’m not suggesting any liability on their part, I knew the risk), using my credit card. I requested a refunded on October 7th 2020 and my card was refunded on 19th October. If you pre-ordered on the website, cancelled and claimed a refund and haven’t received your refund yet certainly follow it up with your card provider and let them get the money back on your behalf.
It’s almost worse now than it was in the early days before they’d shown much. At least before there was hope! Now it’s looking more and more likely that they’ve just run out of money and we’ll never see the pedals.
The switch from the original design to the “new” one left one gaping question - how they could be price-competitive with a design that did not significantly differ from other offerings on the market. Apparently we will never know - I agree, they probably ran out of cash, thus explaining why they say they have issue bringing in parts required to complete assemblies. Likely they were put on credit hold by key suppliers who ended up holding material hostage to the payment of past due bills.
Not sure how you can run out of $3m+ without producing anything. That’s some healthy salaries being paid out!
The money is one thing, as are unforeseen problems. What was unforgivable however were the misleading “updates”, breaking the terms of the crowd-funding platforms they used to raise the money and downright lies about timescales and the state of development when first going to market.
$200 of parts for 15 000 units will take care of $3M. In reality, it’s a lot less than that - take a lease for more than a year, pay some salaries, web site, tools, more tools, protos, more protos, oops we changed our design, more tools, more protos, you’re left with $1M which is really very little working capital to get a full-scale production going, particularly if you don’t have the financial stability to get credit from the suppliers.
“successfully tested by Ray and Shane” is really a bit of a stretch
Seriously, has there been a bigger power meter fail than this… 
… …
They posted a picture on their social media with a caption of “pushing watts in the rain”. Of course they are just getting savaged in the comments
Days like this I wish I was back in social media 
Limits still wins easily here. We haven’t even gotten close to that one yet. We’re still missing:
But hey, they did at least technically deliver something.
They’re busy setting up the automated production line, sorry.