I did some research on this new Cryoniks all the kids are talking about these days-
Well, more digging-
The CEO FAHAD KOUMAIHA is involved with another business called
Crypteks Also another thing called Cryptrade
http://www.cryptrade.com/#/homeNotice on the Crypteks Facebook, a like for Bitwize https://www.facebook.com/crypteks, and Bitwize linkage on the Cryptrade home page with a very similar template used by Cryoniks
Kickstarter that has people questioning them as fraudulent with refund run-arounds
http://www.kickstarter.com/projects/crypteks/crypteks-usbtm-encrypted-and-lockable-usb-solution/comments, speculation that the business is actually run from Lebanon
Reddit has plenty to say on this
Particularly-
As horrible as it is for the backers, it's a sad fact that not every company will be able to make it. What's "dark" and terrible about this company is that they chose to neither communicate properly to their backers, nor were competent enough to give refunds.
I've been checking out kickstarter for a while. They do their best to see real material and such before approving projects for their site. While, yes, try do make money regardless of whether the project delivers or not, they DO actively block people to abuse their platform. I mean, they require something real and tangible for most projects. Software is the only real exception there, and perhaps a few games. I think they do a good job policing projects before they get approved. And, if the projects take your money and run, it doesn't look good for them, either.
And, like they've said, and numerous others have said, this is product investment by crowd. It's a risk. You're not pre-ordering or buying a product, you're giving them funding. If thing go the way they're supposed to, you get something back. And, if not, you get a refund. If you don't, some time of legal recourse should be appropriate, or just calling your credit card company and nixing the charge. The only time it's not really a risk is if it's a successful person or company that's finished one project, delivered, and then put another up.
Those guys should be ashamed of themselves for not communicating properly. If they need more time because of delays, say so. If you completely failed, detail why. Crowd-funding isn't just about getting money. It's about small companies and groups learning how to put out products without having massive debts or big name investors reaching down their backs. Some people wouldn't be able to deliver something at all if it wasn't for this model. Sharing your mistakes is more important that sharing your successes. It helps show the way for others. It's not just crowd-funding, it's crowd-learning about entrepreneurship.
Previous registration for another business in MITRAKTRADE LLC was formed on 2006-01-12 in Michigan by FAHAD KOUMAIHA.
FORMATION
Universal ID
MI-B7333X
Name
TRAKTRADE LLC
Registration Number
B7333X
Type
Domestic Limited Liability Company
Kind
Domestic Limited Liabilit
Status
ACTIVE, BUT NOT IN GOOD STANDING AS OF 2-17-2009 (just means they didn't refile the LLC)
Formation Date
2006-01-12
OFFICERS
Registered Agent
FAHAD KOUMAIHA
It seems like Ed Trice is all over this too with previous scammery involving these nitrogen cooling units but I havn't found any solid linkage there
RED ALERT 
Wish I knew about this when I was making my 
I have registered a new domain for it just yesterday, called CoinCanary.org (not up yet). It is to be a news blog and forum about the activities and scammeries of these companies. We'll venture deep into the mines to see if these things pass the smell test in a more transparent and visible way. Hopefully we can help put an end to people throwing their money away on these obvious scams with some education. 
