The T-Fire is equipped with a 1Ghz CPU, 512MB of RAM, 4GB Flash storage, Bluetooth, and a trio of sensors (gyroscope, g-sensor, compass). It uses one of E-ink's latest screens, and it has a screen resolution of 320 x 240..
I can't find any info on price, weight, features, but one source does say that users will be able to place phone calls from the T-Fire via Bluetooth. That's going to require an Android smartphone; iOS support is still under development.
Tomoon Technologies is reporting that they have 20,000 pre-orders for the watch. That is a pretty good start for a relatively unknown company with an untried product, and it just goes to show what a clever marketing campaign can do. Images of the T-Fire were leaked last month by the CEO.