A ring that seemed too good to be true is apparently too good to exist at all. So reports Vocativ in an exposé about a product that may have never been in the works—and the marketing teams and fundraisers who were seemingly duped by a shiny gadget. The object at hand is the BioRing, a waterproof heart rate monitor and fitness tracker that claimed it would be able to do something medical researchers have not yet achieved: count the calories its wearer consumes, and even differentiate between calories from fat, protein, and carbs. It's something of a holy grail for diet and fitness tracking, and hundreds of people chipped in more than $450,000 to the product's Indiegogo campaign, which launched last June. Forbes thought it might be "the next evolution in wearable tech," while Tech Times likened it to having a "personal trainer at users' fingertips."