Don't know but it looks like they've put a lot of work into it. I know there isn't a chance that they'll get funded but I hope they still make the game. I think they've even gotten Greenlit on Steam! Not that it means they'll ever have something playable..
Edit: Yes, they were Greenlit on Steam but it won't do them any good if they can't finish it. As of now it shows 'Late 2013' for the release though.