The reason Google weren’t to happy about the campaign were as follows:
The Com1 campaign page used stock images of Android Wear and the Android Wear trademark which was taken down by IGG under the premise of an intellectual property infringement complaint by Google shortly after the campaign launched.
Google is usually pretty relaxed about the use of its imagery but they seem more interested in controlling which companies launch Android Wear devices.
Before it was taken down, the Com1 was to be offered to early bird backers for $125USD and when officially released, have a retail price of $175USD. The device was to feature a low cost Imgenic CPU instead the popular Snapdragon 400 chip that is being used other smart watches at the moment.
I guess the moral of the story is, if you want to make an Android Wear device, better check with Google first before you go ahead.