The most charitable explanation would be that Gilles put his technical expertise to devise a very helpful upgrade solution, and received more orders than Polysoft could timely process. Then further personal and/or technical issues crept in (bad PCB batch) and the whole operation got badly behind schedule.
From there, recovery might have been possible by being honest and forthcoming, say a monthly update on Polysoft site about the delays with realistic (slightly pessimitic even) estimate time to delivery for the batches.
Instead, Gilles tried to hide (hoping to eventually catch up?) or downplay the issues when he could no longer remain silent. Delusional at best, and feeding mistrust, from which Polysoft will unfortunately not recover.
If delays, and the need to re-order new parts, left Polysoft with a financial gap and the "solution" was to keep taking new orders to cover for the cost of the old undelivered orders ("cavalerie financière" in French), and there's still six months worth of backorder, this can not end well for unfulfilled customers.