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For anyone that watched Fargo S3. Ortwin = VM Varga Croberts = Emmit
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Jun 24, 2017 22:46
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I knew there was a reason I still had this thread bookmarked.
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Jun 24, 2017 22:48
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Derek they're saying bad things about you https://www.reddit.com/r/starcitizen/comments/6ja465/derek_smart_questiondo_his_criticisms_have_any/ Not sure it's related to Star Citizen related subreddit rules though his nibs fucked around with this message at 22:54 on Jun 24, 2017 |
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Jun 24, 2017 22:51
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Welcome to the
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So, just for redit people reading, here is a re cap: CIG took backers money then gave it all to a loan company lol
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Jun 24, 2017 22:53
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reddit http://i.imgur.com/00sOtZB.gifv goons
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Jun 24, 2017 22:54
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Jun 24, 2017 22:54
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I think they'll try to keep up the charade until the end of the year (complete with holiday stream), then wind it down in a hurry starting in January. Croberts and his merry band of grifters will be gone by end of March, and that will be the end. Bonus prediction: there won't be a single playable minute of SQ42 released. All that mo-cap and all that money for actors for maybe a 15 minute long clip reel that someone slaps together on their way out the door. I can't wait.
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Jun 24, 2017 22:54
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Jun 24, 2017 22:58
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peter gabriel posted:I've never ever seen such hilarity as backers trying to explain that getting a loan does NOT mean CIG need money. This truly is something to behold My favorite is the speculation that CIG needed the money to buy the Imaginarium to start doing mo-cap for the S42 sequel chapters.
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Jun 24, 2017 23:00
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D_Smart posted:Yeah it is awkward - and confusing. But make no mistake, they attached everything. The UK companies aren't subsidiaries of a US company, the UK group is controlled by Chris Roberts personally. They are related parties though because both groups are under control of the Crob. There was something in the accounts in 2015 that now makes sense though. In 2015 CIG UK purchased IP property for £1.3m, performed a partial sale of £0.6m while retaining IP worth £1.3m. I suspect that was them transferring the IP to the UK since what other IP could it realistically be? For some reason it wasn't disclosed as a related party transaction, possibly shenanigans.
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Jun 24, 2017 23:02
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Thoatse posted:
best gif
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Jun 24, 2017 23:02
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So, they effectively sold the project to a bank. They could pretty much take the loan money, cross their 't's and dot their 'i's, pay out bonuses to the execs, and walk away. Watch the loan be only for something like $15 million.
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Jun 24, 2017 23:04
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how long until CIG announces F42 is the studio that all the motion capture was made through / has ownership of So when they default on the loan F42 will go tits up, and with it all the Mocap data welp sorry folks I guess we have to go back and mocap everything again please buy more ships Also please help fund my new kickstarter for Squadron Chapter 11
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Jun 24, 2017 23:04
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XK posted:So, they effectively sold the project to a bank. They could pretty much take the loan money, cross their 't's and dot their 'i's, pay out bonuses to the execs, and walk away. Are they even able to use the game as collateral, since it's probably a tricky relationship issue with Amazon as well?
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Jun 24, 2017 23:05
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Golli posted:For anyone that watched Fargo S3. 
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Jun 24, 2017 23:06
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I'm just waiting for users like Iwasted10bux and lurkeskywalker to weigh in on this debacle
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Jun 24, 2017 23:06
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Oh boy. Every week it's something new and terrible with CIG isn't it? I am going to miss it when it's over and done.
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Jun 24, 2017 23:09
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I expect Ben will make a massive effort post over the weekend, or they will wheel him out on camera Monday to explain the misunderstanding
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Jun 24, 2017 23:11
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Jun 24, 2017 23:13
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 Beet officially not funny 
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Jun 24, 2017 23:18
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I think you guys are missing that this deal is more of a strategic partnership than a desperate last resort. Like Amazon, Coutts & Co now have a vested interest in making sure that Star Citizen is the premier videogame simulator on the market. Think of it like a 5th studio expansion with a new trove of resources and connections to tap into. Can you feel the synergy? I can.
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Jun 24, 2017 23:19
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A Neurotic Corncob posted:I think you guys are missing that this deal is more of a strategic partnership than a desperate last resort. Like Amazon, Coutts & Co now have a vested interest in making sure that Star Citizen is the premier videogame simulator on the market. Think of it like a 5th studio expansion with a new trove of resources and connections to tap into. Can you feel the synergy? I can. cool. everything is good.
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Jun 24, 2017 23:27
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MoooooooMMMAAAAAA... Come out to plaaaaaaaaaaaaaayyyy...
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Jun 24, 2017 23:28
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Jun 24, 2017 23:30
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Jun 24, 2017 23:35
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Jun 24, 2017 23:37
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Tippis posted:We already know what will happen based on those rare days when CIG isn't screwing up. With nothing to share a laugh over, we'll quickly turn on each other, screeching and clawing our eyes out. We'll become eternal enemies, devoting the rest of our bitter, hateful lives to ruining each others' posting experiences all over the nets no matter what topic or what side of an argument we're on. I'll be your posting nemesis if you want
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Jun 24, 2017 23:38
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peter gabriel posted:So, just for redit people reading, here is a re cap: Hey, it's not a loan company! It's the Queen's bank! It's probably at the very least Sir Loan Company, or maybe the Earl of Finance.
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Jun 24, 2017 23:48
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Jun 24, 2017 23:52
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Star Citizen: the bankers will never know
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Jun 24, 2017 23:52
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peter gabriel posted:I've never ever seen such hilarity as backers trying to explain that getting a loan does NOT mean CIG need money. This truly is something to behold Also. If I take a 10,000 loan against my 100,000 house it does NOT mean I'm considered financially healthy. It just means the bank would be quite happy taking my 100k house when I can't repay a 10k loan. King of Cheeses fucked around with this message at 00:39 on Jun 25, 2017 |
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Jun 25, 2017 00:02
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https://www.youtube.com/watch?v=wz-PtEJEaqY
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Jun 25, 2017 00:07
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King of Cheeses posted:Yeah. If I take a 10,000 loan against my 100,000 house it does NOT mean I'm considered financially health. It just means the bank would be quite happy taking my 100k house when I can't repay a 10k loan. This is why I can't wait to find out how much the loan is actually for. There's lots of arguments for a bank not loaning money to a financially unhealthy outfit. However, a bank would loan money to any outfit, no matter how bad its financial health, if it felt the collateral would cover the loan even in a worst case scenario. The negative pledge would go along with this scenario. I wonder how much exactly they put everything on the line for. If it were something like $15 million, that'd be hilarious, and the bank wouldn't have necessarily made that bad of a decision.
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Jun 25, 2017 00:13
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It'd be extra great if this relatively unlikely loan find news actually sticks and ruins their second half earnings beyond what was projected and accelerates the bank takeover.
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Jun 25, 2017 00:23
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It was a $10k loan so Ben's WingCommander stash wouldn't get repossessed by the recyclers.
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Jun 25, 2017 00:31
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Jymmybob posted:It'd be extra great if this relatively unlikely loan find news actually sticks and ruins their second half earnings beyond what was projected and accelerates the bank takeover. The Citizen Defense Force on reddit is already trying to put out any fires that are sprouting up in different subforums. It might not take. I wonder what play CIG has here. My guess is keep quiet and refuse to acknowledge it. Spend extra cash to have sock puppets quash any mention of it on the official forums and on reddit. That charge would be lower than the hit funding would take if people started questioning the loan. The worst thing we could do would be to spread it around even more, make those sock puppets log hours of overtime to bill CIG with.
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Jun 25, 2017 00:31
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Jun 25, 2017 00:33
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 It's not CIG loving up, it's every other game company in the entire universe being liars. It is known.
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Jun 25, 2017 00:36
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(Edit) Removed (USER WAS PUT ON PROBATION FOR THIS POST)
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Jun 25, 2017 00:39
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XK posted:This is why I can't wait to find out how much the loan is actually for. There's lots of arguments for a bank not loaning money to a financially unhealthy outfit. However, a bank would loan money to any outfit, no matter how bad its financial health, if it felt the collateral would cover the loan even in a worst case scenario. The negative pledge would go along with this scenario. The thing is no matter which way it lands, it's bad for F42/CIG. If the loan is for a large amount it means that their finances are in a seriously bad state and they desperately need a large cash injection to keep going. If the loan is for a relatively small amount it means that their books are so bad that even for a relatively minor sum Coutts asked them for everything they own as collateral.
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Jun 25, 2017 00:39
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