Breathometer was founded in 2012 by Charles Michael Yim, a serial entrepreneur who had earlier founded three startup companies including Chatterfly, a mobile loyalty platform for businesses that was acquired byPlum Districtin December 2011. Yim noted that there were no commercial breathalyzers for the smartphone market, and the only portable breathalyzers commercially available were both expensive and impractical for users to take with them on a night out.

The company was partly funded through preorders collected via anIndiegogocrowd-sourcing campaign, which ran until April 2013.The campaign's original goal was to raise $25,000, but by the time it closed, it had raised $138,000.

In September 2013, Yim appeared onShark Tank, he originally asked for $250,000 for a 10% stake in Breathometer, but all five "sharks" ended up investing a total of $1 million for a collective 30% stake in the company. It was the first time that all five sharks participated in a bid together

Product refunds

According to the complaint, sales of Original and Breeze totaled $5.1 million. The order required the company to pay full refunds to consumers who request them

Please elaborate what you saw in this topic as to how it relates to financial management?