That is incorrect. The money is transferred once funding period has ended if funding goals have been reached.
From that point on, the project authorship has the money (minus Amazon's and Kickstarter's shares) and may never get it done still.
Source: funded half a dozen of KS so far, I know when money leaves me. It would also completely unmake the point of kickstarter: it's about providing funds for the project to be done, not guaranteeing sales so people can go get institutional investors showing they have 3 million sales in already (especially since most KS are a few thousand, the current million+ craze is not the median project)
Well, the funding was canceled, which according to the FAQ means that all pledges are voided. So they actually managed to get exactly $0.
Points of evidence
- God character art is from http://pgwebdesign.net/blog/35-mythological-art-masterpieces...
- Backgrounds are from http://conceptart.org/forums/showthread.php?t=211755 and http://psd.tutsplus.com/tutorials/painting/ancient-temple-en...
- Poster consists of this icon; http://xooplate.com/templates/details/2443-ancient-warrior-s... on top of this texture; http://panzertm.deviantart.com/art/Old-Yellowed-Paper-125646...
- The sword reward pictures are from; http://www.knifecave.com/fantasy/store/products/Designer+Cus...
- The reward tier text and values are copied wholesale from The Banner Saga's kickstarter, with just a game name search & replace.
- The office photos; http://i.imgur.com/uTCBT.png are just crops from the Burton Design Group; http://i.imgur.com/XOFdi.jpg