Let the hive mind of Engadget get that for you.
"For a long time I have been searching for a portable device where I can store all of my CDs in MP3 format and stream the songs wirelessly to my HiFi system. The portable device must I've tried FM transmitters, they all suck. I don't want a docking station. Any help? Thanks!" have a display so that I easily can scroll through the playlists (I don't want to use a TV or monitor). I suppose that there must also be a second device that is connected to the HiFi system that would receive the wireless streams from the portable device.
As long as they maintain the illusion that success is just over the hill, there is no way to prove that they are running a scam, and they can still ask for more money from their investors.
It's a lot like the 419 Nigeria scam. The scam would end pretty quickly if the thieves told the victim, "Ok, we put the money in your bank account," and it wasn't there.
It's an age old scam, and it's sad that it continues to work today.