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# ? Jun 25, 2017 00:56 |
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# ? Jun 5, 2024 07:53 |
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Latin Pheonix posted:The thing is no matter which way it lands, it's bad for F42/CIG. I'm sure Roberts was very open and honest with all his employees on when and why he was risking the entire company for a loan Right?
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# ? Jun 25, 2017 00:57 |
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lurkeskywalker posted:Umm, that's "me", "Lurkeskywalker"! Grats on your ban.
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# ? Jun 25, 2017 00:58 |
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So is this poo poo actually happening? Crobbler actually put the entire company up as collateral? Not just F42 or parts of it, but the whole shebang?
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# ? Jun 25, 2017 01:00 |
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Your bro's gonna be real mad duder
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# ? Jun 25, 2017 01:02 |
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lurkeskywalker posted:
well hello, I know you've said you've been here for awhile but welcome nonetheless!!!!!!! do you still have a monetary investment into this empty grave?
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# ? Jun 25, 2017 01:03 |
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Fil5000 posted: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. You say this in jest, but currently in the (still hidden) thread, there are citizens using this as a defense
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# ? Jun 25, 2017 01:04 |
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shrach posted: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. Actually they are. Read their original filing docs. And as per UK rules, that's why the company names (CIG, RSI) match the US ones; but there is no F42 in the US, as it is the studio that Chris built for his brother Erin, as an entity in the UK. It has to be stated that this loan could very well be used to wind down operations in the short-term, pay out bonuses, and Golden parachutes etc, for Chris Roberts' friends and family who have unjustly enriched themselves from backer and investor money. Then they default on the loan, wind down the companies - and walk away. quote: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. That's correct. I wrote about this in two blogs. This is also why, shortly following the June 2016 ToS change, they changed all the US entities (on their websites for example) to the UK company. I wrote about that back on June 10, 2016, when they released the latest ToS.
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# ? Jun 25, 2017 01:04 |
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peter gabriel posted:Coutts Imperium Games Coutts' InArrears "Games"
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# ? Jun 25, 2017 01:06 |
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I've been drinking heavily at some pool party in Staten island. I think if I read writing right. Coots now owns squadron 42?
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# ? Jun 25, 2017 01:09 |
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The loan could be used to keep the lights on in order to make it to gamescon and then Citizencon, their two largest income sources of the year. If they can make it to those, then they should have the cash to make it for another 2-4 months. This is assuming they have something to release, I don't think those two events will go over that well unless they can release something. Unlike past years, CIG will have not released anything of substance for 2 years at that point, even the hardcore backers will have a hard time forking over money.
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# ? Jun 25, 2017 01:11 |
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Can a publisher buy off CIG now? Im guessing they cant at least not directly
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# ? Jun 25, 2017 01:13 |
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# ? Jun 25, 2017 01:14 |
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lurkeskywalker posted:Umm, that's "me", "Lurkeskywalker"! Blah blah blah, account sharing. Thanks for saving the thread again CIG. Quavers posted:Star Citizen: the bankers will never know
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# ? Jun 25, 2017 01:15 |
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Cao Ni Ma posted:Can a publisher buy off CIG now? Im guessing they cant at least not directly If they weren't inclined to do so before, this certainly isn't helping.
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# ? Jun 25, 2017 01:15 |
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Somewhere out there Randy Pitchford is breathing a sigh of relief
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# ? Jun 25, 2017 01:17 |
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1500 posted:The loan could be used to keep the lights on in order to make it to gamescon and then Citizencon, their two largest income sources of the year. If they can make it to those, then they should have the cash to make it for another 2-4 months. This is assuming they have something to release, I don't think those two events will go over that well unless they can release something. Unlike past years, CIG will have not released anything of substance for 2 years at that point, even the hardcore backers will have a hard time forking over money. That's precisely why this loan is a very bad sign. Trying to stay afloat for a few more months is immaterial, given their burn rate and the fact that the game is nowhere near complete. And the money raised from those two events, isn't going to cut it - at all. It didn't before, so what's going to change? The only thing that has changed is that they are now out of money, have taken a very dangerous loan - and are in debt. I said a long time ago that the E.L.E was playing out slowly but surely, we are approaching The End game now. They have no way to make money from new backers, and they are indebted to existing backers who they keep fleecing. Layoffs are next. Mark my words.
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# ? Jun 25, 2017 01:17 |
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Hobold posted:So is this poo poo actually happening? Crobbler actually put the entire company up as collateral? Not just F42 or parts of it, but the whole shebang?
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# ? Jun 25, 2017 01:17 |
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1500 posted:The loan could be used to keep the lights on in order to make it to gamescon and then Citizencon, their two largest income sources of the year. If they can make it to those, then they should have the cash to make it for another 2-4 months. This is assuming they have something to release, I don't think those two events will go over that well unless they can release something. Unlike past years, CIG will have not released anything of substance for 2 years at that point, even the hardcore backers will have a hard time forking over money. Ha, no they won't.
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# ? Jun 25, 2017 01:20 |
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https://www.reddit.com/r/starcitizen/comments/6ja465/derek_smart_questiondo_his_criticisms_have_any/djcr3ze/quote:I hate Smart, I hate his personality, I hate his attitude. However, he said some things about the game that turned out, and are still turning out, to be true. I also expect all posts that point this out to be heavily downvoted so most of the ones up top will just say no. Which can possibly be avoided by replying to an already popular post, instead of OP. The response.... quote:Here you go.
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# ? Jun 25, 2017 01:21 |
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Lladre posted:I've been drinking heavily at some pool party in Staten island. CIG was so trigger happy about being able to license their technology to somebody that they gave it to a bank so the bank could license it to CIG themselves. Brilliant!
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# ? Jun 25, 2017 01:21 |
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Citezencon is going to be an old-timey public broadcasting pledge drive where backers are asked to call in and pledge money to keep the doors open. Disco Lando will drop his pants and sing "The Old Grey Mare" for our amusement.
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# ? Jun 25, 2017 01:22 |
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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. I am sure the ability to sell all of Gary Oldman's mocap footage to Oldman so it can be buried and never see the light of day would be worth at least a few mill.
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# ? Jun 25, 2017 01:22 |
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New capital ship sale incoming. Bets on Banu or Xi'an.
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# ? Jun 25, 2017 01:22 |
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Breetai posted:Citezencon is going to be an old-timey public broadcasting pledge drive where backers are asked to call in and pledge money to keep the doors open. were singing for he's a jolly good fellow. out of tune and in several keys
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# ? Jun 25, 2017 01:25 |
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Later today I'm gonna have a good lol thinking about CIG hitting up Amazon for money then months later putting the whole project down as collateral without telling them. Someone put this debacle in a letter to Amazon. A concerned stockholder perhaps
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# ? Jun 25, 2017 01:25 |
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1500 posted:The loan could be used to keep the lights on in order to make it to gamescon and then Citizencon, their two largest income sources of the year. If they can make it to those, then they should have the cash to make it for another 2-4 months. What you're describing here is a payday loan. You know, those shady rear end outfits that prey on poor people by giving them small loans so they can pay their electricity bill, but charge them crazy interest rates that snowball after a late payment.
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# ? Jun 25, 2017 01:31 |
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peter gabriel posted:Hyperbole aside, what could be a legit reason for the loan? I am trying to think of this from a backers perspective and I am coming up with nothing. Have you considered including not only their perspective but also their idiocy into it?
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# ? Jun 25, 2017 01:33 |
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The Pledge seems so hollow now We, the Developer, intend to treat you with the same respect we would give a publisher blahhh blah We will do a show and tell for each major milestone.
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# ? Jun 25, 2017 01:35 |
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trucutru posted:Have you considered including not only their perspective but also their idiocy into it? I tried but could not reach that far into my brains bowels
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# ? Jun 25, 2017 01:36 |
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Virtual Captain posted:Later today I'm gonna have a good lol thinking about CIG hitting up Amazon for money then months later putting the whole project down as collateral without telling them. Considering how many industry people - including Amazon gaming guys - I have in my social media (Twitter, Facebook) feeds, trust me, they know.
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# ? Jun 25, 2017 01:36 |
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D_Smart posted:Considering how many industry people - including Amazon gaming guys - I have in my social media (Twitter, Facebook) feeds, trust me, they know. Yeah well my uncle works at Nintendo and he doesn't give a fuuuuck peter gabriel fucked around with this message at 01:46 on Jun 25, 2017 |
# ? Jun 25, 2017 01:41 |
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lurkeskywalker posted:(Edit) This just became my favorite probation ever. Also OP is updated. Beer4TheBeerGod fucked around with this message at 01:46 on Jun 25, 2017 |
# ? Jun 25, 2017 01:43 |
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page 1337
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# ? Jun 25, 2017 01:48 |
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Has anyone said 'the bankers will never know' yet?
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# ? Jun 25, 2017 01:49 |
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Beer4TheBeerGod posted:This just became my favorite probation ever. Beer, did you ever think that we would be here - in 2017 - talking about CIG taking out crippling loans after having raised over $150 million?
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# ? Jun 25, 2017 01:50 |
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Hobold posted:New capitol ship sale incoming. Bets on Banu or Xi'an. FTFY
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# ? Jun 25, 2017 01:56 |
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"Help, the MV Golden Ticket is in trouble"
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# ? Jun 25, 2017 01:57 |
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I'm on mobile. what did the feller get probated for?
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# ? Jun 25, 2017 02:01 |
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# ? Jun 5, 2024 07:53 |
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Lladre posted:I'm on mobile. what did the feller get probated for? Account sharing.
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# ? Jun 25, 2017 02:03 |