From Moller web site:

4.2. Why is it taking so long to complete the Skycar?
Revolutionary ideas are not born overnight. We have been in
development since the 1960's and have flown several prototypes and
concept vehicles. The progress of the M400 is on a very quick schedule
when you review the man-hours and dollars expended. Only $100 Million
has been spent in R & D at Moller International, compare this to the
$1.2 Billion required for the gearbox design on the Bell-Boeing V22
Osprey.



There is no proof Moller has spent any more money than creating the
mockups and advertising materials he has shown.