Additional schematics, would be nice if someone can verify it.
In one of their updates, they wrote,
The algorithm for delivering desired image to display controller is being developed and we're negotiating with Texas Instruments to have possibility for creating own modification of TI's DLP3435 firmware which will implement picture vizualization according to our algorithm with the best efficiency in case of Ritot watch functionality. In addition methods for image compression are under consideration, applying one of which realize efficient memory usage for storing image patterns and data which received from the mobile device.
I work with TI's DLP343x regularly... on a wearable device even. To do anything at all, their board needs a source for 24-bit parallel video, the DLPC343x, another chip called the DLPA200x that controls an RGB LED and the "mirrors" (DMD chip). Plus, you need optics to direct light from the RGB LED to the mirrors and then out to the projection surface (i.e., the hand in this case). Power consumption for all that silicon will be huge compared the battery they can stuff into the bracelet. BOM cost? ... pointless to even talk about it.
It's complete horseshit.