The developers haven't managed to raise the money, yet
The Leikr Team and their Linux watch have been on Kickstarter for quite some time and they only have a few days left to meet their goal.The Leikr Linux watch is an interesting product, but the Danish developer team will need additional funds to get the project going, even if the watch is actually production ready.
The hardware specs of the watch are quite impressive: 500MHz Arm Cortex A8 processor, 2” TFT color 320×240 pixel 65K color with 11% reflectance, 8 GB of storage, BlueTooth 3.0, WIFI 802.11 b/g/n, USB 2.0, BT Pulse-belt, and Leikr custom software on Linux OS.
The Leikr Team also opened 100 beta spots for people who want to test the device, before being launch in the US. They also provide and Open Maps development Kit for the users who want to design their own maps.
If you are interested in the project, check out the official Kickstarter website.