Well it definitely reads as
- ANT locked up for 12 months
- all backers receive a share of the 1.5 million for those apps that go live
- 0 to 12 apps will go live by the stated date
It seems dangerous in that some to all of the locked ANT can be lost to the people backing apps. If some do not go live then the people will lose the ANT.
To me that is very risky and doubt people will lock up substantial amounts since an app can fail to go live for any number of reasons which include it being no fault of the app writer.
Seems the OP says
which means that the backed amount is returned no matter what