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Coutts Imperium Games
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Jun 24, 2017 19:51
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peter gabriel posted:Jesus, well done CIG you hosed up in a hilarious new way A good days work PGABZ - a new video
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Jun 24, 2017 19:52
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Welcome to the
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peter gabriel posted:Coutts Imperium Games Coutts Imperium Games & Co
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Jun 24, 2017 19:52
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tooterfish posted:You will please refer to the company by its proper name "Coutts & Co" in all further communications, thank you. Looking forward to the new BBB Complaint responses. "The consumer has submitted the complaint against RSI instead of our banker overlords but we will be happy to reply... "
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Jun 24, 2017 19:53
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crobutts68
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Jun 24, 2017 19:53
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For the back..bankers.
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Jun 24, 2017 19:53
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Jun 24, 2017 20:01
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TheAgent posted:I'm downloading elite dangerous for the PS4 How do you do this friend, the only thing I see in the store are pre-orders. I will gladly crash with you.
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Jun 24, 2017 20:02
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Reddit knobhead posted:Coutts & Co. does not hand out loans to people in financial trouble. You need to have at least €1,000,000 in tangible assets for them to even consider handing you a loan, this shows CIG has money. Getting a loan actually just shows that CIG have money 
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Jun 24, 2017 20:03
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Jun 24, 2017 20:03
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SC_White_Knight has to be a goon. I applaud his long con. And people are failing to see the great benefit of Coutts taking over operations. If we get lucky Coutts will have a couple of stuffy British bank managers do the ATV every week--liven the show up to watchable levels maybe...
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Jun 24, 2017 20:05
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Risc1911 posted:Waiting for the spergs to realize that when the game releases in any shape or form commercially and the loan has not been paid back the backers will not get their copies unless the bank gives their consent because as long as this floating charge is present the bank owns the game and every copy of it as per 4.2.1 of the loan agreement. Well, yes and no, the bank doesn't own any of these assets unless F42 trigger the conditions that require immediate repayment (usually defaulting on their loan repayments or insolvency). Also, English law states that if a company sells goods to an innocent third party that someone else has title to, the third party will have the right to own the goods (i.e. you can't clawback goods sold to customers). I dunno how this would apply here given that we're talking about licenses rather than goods, but seeing as how this law is intended to protect consumers (and 3rd party businesses), I'm pretty sure it'll be applied in the same way. Of course, this is all a moot point if F42 goes bust before it can deliver SC, as in that scenario Coutts would be well within their rights to package up and sell off every asset the company owns and is under no obligation to finish F42's works. What I find insane is that the deed includes the assignment of IP rights (including copyright) which, if triggered, means that CIG would lose all of it's IP rights if F42 defaults (at least in the UK). I guess their reasoning is that if F42 collapses then CIG is also collapsing.
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Jun 24, 2017 20:08
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Xaerael posted:Coutts & Co is a local bank for me. Maybe I'll see legendary game maker Christopher Roberts coming and going while he begs for more time on his loan repayments. lol Tijuana Bibliophile posted:stars it isn't 
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Jun 24, 2017 20:10
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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. If they raised $150 million and have stated they can complete the game no problem, why is this happening?
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Jun 24, 2017 20:10
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Latin Pheonix posted:Well, yes and no, the bank doesn't own any of these assets unless F42 trigger the conditions that require immediate repayment (usually defaulting on their loan repayments or insolvency). Also, English law states that if a company sells goods to an innocent third party that someone else has title to, the third party will have the right to own the goods (i.e. you can't clawback goods sold to customers). I dunno how this would apply here given that we're talking about licenses rather than goods, but seeing as how this law is intended to protect consumers (and 3rd party businesses), I'm pretty sure it'll be applied in the same way. Yes - precisely. This loan is a huge risk; and for them to have actually done it, shows some serious desperation. All of which goes back to what most of us have been saying: the funding chart is pure fictional bullshit. No way they would making that much money, even though they are burning a lot, and still need to take out TWO loans in which the 2nd doesn't even pay the 1st. And both loans are to the same main bank (RBS, owns both NatWest and Coutts). 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. They lied. The funding chart is bollocks They need money to fund ops because F42 is burning through $2m a month.
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Jun 24, 2017 20:12
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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. Half the bullet points of section 4. Or even less. Nellistos fucked around with this message at 20:16 on Jun 24, 2017 |
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Jun 24, 2017 20:12
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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. More mocap is needed.
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Jun 24, 2017 20:13
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Quavers posted:PCGamer: "Beyond Good & Evil 2 is making a lot of promises we've heard before - a few reasons to still be skeptical of the long awaited sequel" 
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Jun 24, 2017 20:13
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tooterfish posted:You will please refer to the company by its proper name "Coutts & Co" in all further communications, thank you. Coutts Imperium Games e:fb peter gabriel posted:Coutts Imperium Games Thoatse fucked around with this message at 20:18 on Jun 24, 2017 |
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Jun 24, 2017 20:15
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Jun 24, 2017 20:19
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Risc1911 posted:Waiting for the spergs to realize that when the game releases in any shape or form commercially and the loan has not been paid back the backers will not get their copies unless the bank gives their consent because as long as this floating charge is present the bank owns the game and every copy of it as per 4.2.1 of the loan agreement. That post would be good for /r/games
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Jun 24, 2017 20:19
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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 
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Jun 24, 2017 20:20
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 Can I borrow £20 please? WOAH CHECK OUT MR BIG POTATOES OVER HERE!!!
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Jun 24, 2017 20:21
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hanales posted:How do you do this friend, the only thing I see in the store are pre-orders.
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Jun 24, 2017 20:22
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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 Look man. Apple takes out loans all the time. They obviously give all of their IP rights as collateral, as well as their chairs. This is normal, and everything is fine.
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Jun 24, 2017 20:23
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It's just his buddies lending him some dosh. The actual name of the bank is Croberts, Coitus & Co.
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Jun 24, 2017 20:23
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Got $150 million in the bank, welp time to get a loan
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Jun 24, 2017 20:24
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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 Yeah, it's truly hilarious AF. Has anyone said "Derek Smart was right" yet? A few weeks back, I did sense that something was amiss when i) they filed their 2016 financials early ii) they restated some dodgy financials from 2015 quote:Section 19 is very curious. Due to the huge restated amount of £2.4m ($3.0m) from 2015, it reads like the sort of thing that would result from either a govt audit, or them just cleaning up their books in order to pass any due diligence muster. Also, as they’re now taking tax credits, it makes sense that these sort of numbers should be devoid of any such discrepancies, or they would also be in some serious problems with the govt. If you look at the chart from the previous analysis, with these restated numbers, it is now also clear that though the company doesn’t sell anything, they’re using money received from the parent (the backer piggy bank) company, as their income/turnover cash flow D_Smart fucked around with this message at 20:27 on Jun 24, 2017 |
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Jun 24, 2017 20:24
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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 Putting up all your assets and everything you might ever earn is the first sign of a financially healthy company that the bank sees no risk in lending to.
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Jun 24, 2017 20:24
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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 Wait until you see backers trying to extract their refunds from the Queen, when this is over.
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Jun 24, 2017 20:25
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TheAgent posted:oh crap I thought it was released last night, guess I gotta wait until monday to fly myself repeatedly into landing pads at full speed I thought there was a training doody you could download...
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Jun 24, 2017 20:25
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Latin Pheonix posted:
To be fair, I think specifically the IP is not included. It's awkward.
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Jun 24, 2017 20:26
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big nipples big life posted:Putting up all your assets and everything you might ever earn is the first sign of a financially healthy company that the bank sees no risk in lending to. When you think about it, it's like a car, or McDonalds
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Jun 24, 2017 20:26
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I wonder if the limited edition 911 belongs to Chris or CIG.
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Jun 24, 2017 20:28
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Sarsapariller posted:Wait until you see backers trying to extract their refunds from the Queen, when this is over.  
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Jun 24, 2017 20:28
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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. They're really close to being able to release SQ42 and SC shortly after, and they need vast sums of money for advertising... remember after all, at least 1/3 of a 'normie' game's budget is advertising so really this is a very good thing bing bong so simple.
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Jun 24, 2017 20:29
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big nipples big life posted:I wonder if the limited edition 911 belongs to Chris or CIG. Coutts & Co
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Jun 24, 2017 20:29
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edit
DuckDynasty fucked around with this message at 01:16 on Jun 25, 2017 |
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Jun 24, 2017 20:31
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:blober: I only wish I could troll the way he just is
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Jun 24, 2017 20:31
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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. For realsies? The only reason off the top of my head is the need for liquidity. The thing is that software companies aren't like regular businesses, they don't have their funds stuck in assets like raw materials, produced goods or plant and machinery; someone better versed than me in the industry likely knows this (Derek?) but from what I can see, most money in a game studio goes towards property, IT and salaries, so a lack of liquidity shouldn't be an issue for F42 (in theory).
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Jun 24, 2017 20:36
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