|
I have actually learned a lot about loans thanks to all this bullshit and discovered that very good reasons for taking a floating charge loan exist. But don't tell the redittors about them, this poo poo is too funny. https://www.slideshare.net/wongo78/strenghts-and-weaknesses-of-fixed-and-floating-charges-as-forms-of-security trucutru fucked around with this message at 21:11 on Jun 25, 2017 |
#
?
Jun 25, 2017 20:43
|
|
|
|
| # ? Jun 4, 2024 18:28 |
|
|
Thoatse posted:I don't know about that, reddit made the thread visible again and a bunch of articles were written and other forums are all talking about it and every time I glance at general chat on spectrum there's another 'question answered, thread closed' or two. Interesting to see what happens when/if the major games sites run with it tomorrow. If they do then it's major CiG damage control time.
|
|
#
?
Jun 25, 2017 20:44
|
|
Welcome to the
|
Meanwhile, on /r/SubredditDrama... 
|
|
#
?
Jun 25, 2017 20:47
|
|
|
skaboomizzy posted:It's like the old arcade racing games where you're in last place at the first checkpoint and have to borrow a quarter off your buddy to keep playing. You'll still be hopelessly behind at the next checkpoint, now you have to buy your friend a Coke on top of it. It's like the old ponzi schemes where you're in last place at the first withdrawl and have to borrow a quarter billion off your buddy to keep playing. You'll still be hopelessly behind at the next withdrawl, now you have to buy your friend some coke on top of it.
|
|
#
?
Jun 25, 2017 20:48
|
|
C-Bangin' it 
|
BeigeJacket posted:The shadiest thing about this delightful mess is Erin cashing out his shares just before the company he is director of gets a large loan and potential loss of control when/if they default. It's how we found out the Gizmondo guys were involved if I remember right.
|
|
#
?
Jun 25, 2017 20:51
|
|
|
http://www.inquisitr.com/4322447/is-star-citizen-in-trouble-with-a-loan-and-owned-by-a-bank-no-not-really/
|
|
#
?
Jun 25, 2017 20:53
|
|
|
Quavers posted:http://www.inquisitr.com/4322447/is-star-citizen-in-trouble-with-a-loan-and-owned-by-a-bank-no-not-really/ Does every article about Star Citizen open with a sentence that sounds like a Frisky Dingo newscast?
|
|
#
?
Jun 25, 2017 20:58
|
|
|
the war of the star citizen blogs. god - who is the last idiot standing, I wonder, the yay's or nay's.
|
|
#
?
Jun 25, 2017 20:59
|
|
|
https://robertsspaceindustries.com/spectrum/community/SC/forum/1/thread/re-uk-tax-rebate-advance-for-foundry-42
|
|
#
?
Jun 25, 2017 21:00
|
|
|
 https://robertsspaceindustries.com/spectrum/community/SC/forum/1/thread/re-uk-tax-rebate-advance-for-foundry-42 lmao "everything is fine"
|
|
#
?
Jun 25, 2017 21:00
|
|
|
Quavers posted:http://www.inquisitr.com/4322447/is-star-citizen-in-trouble-with-a-loan-and-owned-by-a-bank-no-not-really/ At last, some proper gaming journalism Wonder how much Scott is in for
|
|
#
?
Jun 25, 2017 21:00
|
|
|
boom.
|
|
#
?
Jun 25, 2017 21:02
|
|
|
Wow, wheeling Ortwin out on a Sunday.
|
|
#
?
Jun 25, 2017 21:03
|
|
|
his nibs posted:
Ninja'd by Otwin
|
|
#
?
Jun 25, 2017 21:04
|
|
|
Quavers posted:http://www.inquisitr.com/4322447/is-star-citizen-in-trouble-with-a-loan-and-owned-by-a-bank-no-not-really/ how much did this article cost CIG?
|
|
#
?
Jun 25, 2017 21:04
|
|
|
Colostomy Bag posted:Wow, wheeling Ortwin out on a Sunday. Wonder how pissed he was when Ben came tearing across the fairway on his rascal
|
|
#
?
Jun 25, 2017 21:06
|
|
|
nawledgelambo posted:
'We're simply spending the money the government is going to give us before they've actually given it to us and so are paying interest on it for the privilege.' E. Also lol @ "partner with Coutts", 'partner'! TIL I am partnered with Lloyds Bank Wrecked Angle fucked around with this message at 21:10 on Jun 25, 2017 |
|
#
?
Jun 25, 2017 21:07
|
|
|
Colostomy Bag posted:Wow, wheeling Ortwin out on a Sunday. His explanation seems plausible to my barely financially literate eyes tbh, accounting can be a bit byzantine and companies do do poo poo like that all the time. It's funny that they have to scramble like this though, that refund spike must've hit them right in the feels.
|
|
#
?
Jun 25, 2017 21:07
|
|
|
nawledgelambo posted:
Here I was thinking we had till Monday or Tuesday for our fun. I'm still expecting further response. Sappo569 posted:Wonder how pissed he was when Ben came tearing across the fairway on his rascal
|
|
#
?
Jun 25, 2017 21:08
|
|
|
To be honest the story got some serious legs... so I understand why they were pressing for a statement. Everyone loves to cash in on a good drama.
|
|
#
?
Jun 25, 2017 21:08
|
|
|
Do you think all Ben's shoes are velcro? Do you think it's the same sound his thighs make if he moves quicker than a stroll?
|
|
#
?
Jun 25, 2017 21:08
|
|
|
Sappo569 posted:Wonder how pissed he was when Ben came tearing across the fairway on his rascal lmao
|
|
#
?
Jun 25, 2017 21:10
|
|
|
Quavers posted:http://www.inquisitr.com/4322447/is-star-citizen-in-trouble-with-a-loan-and-owned-by-a-bank-no-not-really/ "The loving Article posted:The final bit of evidence showing the loan isn’t any particular danger comes at the end of page 18 of the loan document, under the title “Excluded Collateral.” This lists Star Citizen the game as excluded collateral, meaning it is not owned by the bank in the event of a default. It will just be everything else surrounding it. Oh, well that's okay then!
|
|
#
?
Jun 25, 2017 21:10
|
|
|
To bad that this thread lost the interest of most of its genius fanfic writers, I would love to read about how Ben rolled through the CIG corridors in Santa Monica to save the day.
|
|
#
?
Jun 25, 2017 21:11
|
|
|
Well, time to buy back in!
|
|
#
?
Jun 25, 2017 21:15
|
|
|
nawledgelambo posted:
Well I for one am satisfied with this answer and that puts the issue to bed for me
|
|
#
?
Jun 25, 2017 21:16
|
|
|
Pope Corky the IX posted:Do you think all Ben's shoes are velcro? Do you think it's the same sound his thighs make if he moves quicker than a stroll? You know how c is light speed? Well, b is Ben speed. Although b is dependent on the medium he's travelling through (he gets a bit quicker when it's M&Ms), it's mathematically impossible for Ben to move more quickly than a shamble.
|
|
#
?
Jun 25, 2017 21:16
|
|
|
 it's like the tax prep places here that give you your refund RIGHT NOW*This is the sign of a stable business that is in no way desperate for cash *actually, they get your full refund, they're giving you 80% of what you would have gotten if you could afford to just wait a month
|
|
#
?
Jun 25, 2017 21:20
|
|
|
Sperglord posted:Over been away from this for months, but the bank story brought me back for the ending hilarity. Precisely. In fact, OSC is back as well, and he posted something similar. It's a whole book.  https://www.reddit.com/r/starcitizen_refunds/comments/6jear8/star_citizen_now_belongs_to_the_bank/djdxa18/
|
|
#
?
Jun 25, 2017 21:21
|
|
|
The tickler says we're in the black
|
|
#
?
Jun 25, 2017 21:23
|
|
|
nawledgelambo posted:
Ortwin posted an official CIG statement. It's usual rubbish. They pledged ALL company assets over tax credits?!?! Look at the 2016 filing, and it is 100% clear that the tax credits aren't even going to fund 2 months of operations! They're financially healthy, yet have to take out a loan against tax credits? When in fact the filing shows ALL assets not just tax creds? This is the same guy who has been involved in various venture collapses, and complete loss of investor money; mostly in Germany Because after taking over $150m in backer money, pledging all the assets for a measly tax credit, makes so much sense. puhleeze. I wrote an analysis of their 2016 filings which shows the tax credit amounts. quote:They are now taking the tax credits awarded by the government for software companies in the region. For 2016, they took £3.3m ($4.1m) allowance, and with the £3.1m ($3.9m) taken in 2015, brings the total tax credit to £6.4m ($8.1m) thus far. Due to how this is calculated (after expenses), this tax credit adds approximately £6.4m ($8.1m) to the projects P&L calculations. Ortwin's statement that they took a loan against such a SMALL tax credit (less than $5m), should be alarming that they would even need to If after getting $150m + investor money + loans, you also need to pledge ALL assets for a loan against a measly tax credit, that's a problem D_Smart fucked around with this message at 21:35 on Jun 25, 2017 |
|
#
?
Jun 25, 2017 21:23
|
|
|
peter gabriel posted:Well I for one am satisfied with this answer and that puts the issue to bed for me same only unironically
|
|
#
?
Jun 25, 2017 21:24
|
|
|
Star Citizen: lol CIG got a payday loan
|
|
#
?
Jun 25, 2017 21:26
|
|
|
|
|
#
?
Jun 25, 2017 21:28
|
|
|
::yawn:: Hey folks, what's going on?
|
|
#
?
Jun 25, 2017 21:31
|
|
|
ManofManyAliases posted:::yawn:: How ironclad is that loan agreement? Did you write it?
|
|
#
?
Jun 25, 2017 21:34
|
|
|
ManofManyAliases posted:::yawn::
|
|
#
?
Jun 25, 2017 21:35
|
|
|
nawledgelambo posted:
Ortwin posted an official CIG statement. It's usual rubbish. They pledged ALL company assets over tax credits?!?! Look at the 2016 filing, and it is 100% clear that the tax credits aren't even going to fund 2 months of operations! They're financially healthy, yet have to take out a loan against tax credits? When in fact the filing shows ALL assets not just tax creds? This is the same guy who has been involved in various venture collapses, and complete loss of investor money; mostly in Germany Because after taking over $150m in backer money, pledging all the assets for a measly tax credit, makes so much sense. puhleeze. I wrote an analysis of their 2016 filings which shows the tax credit amounts. quote:They are now taking the tax credits awarded by the government for software companies in the region. For 2016, they took £3.3m ($4.1m) allowance, and with the £3.1m ($3.9m) taken in 2015, brings the total tax credit to £6.4m ($8.1m) thus far. Due to how this is calculated (after expenses), this tax credit adds approximately £6.4m ($8.1m) to the projects P&L calculations. Ortwin's statement that they took a loan against such a SMALL tax credit (less than $5m), should be alarming that they would even need to If after getting $150m + investor money + loans, you also need to pledge ALL assets for a loan against a measly tax credit, that's a problem
|
|
#
?
Jun 25, 2017 21:35
|
|
|
I'm no entertainment attorney, oops I meant financial expert but why would have to mortage literally everything to take out a loan against guaranteed income from the government of all places? 
|
|
#
?
Jun 25, 2017 21:36
|
|
|
|
| # ? Jun 4, 2024 18:28 |
|
|
beautiful fatman posted:Star Citizen: lol CIG got a payday loan
|
|
#
?
Jun 25, 2017 21:38
|
|