|
Meanwhile, over on "the Spectrum"...(seriously, read it. It's amazing) https://robertsspaceindustries.com/spectrum/community/SC/forum/3/thread/starcitizen-puts-the-whole-company-up-as-collatera/275158 My favorite: quote:EDIT: the charge isn't a loan. This is a website that shows basic info of companies and how they've taken care of themselves. The scary bit is that the charge is in fact from sheridans which is a media law firm. This could be a defense form for CIG defending some design or something made by another artist or an artist previously employed by CIG, or could be the opposite..
|
#
?
Jun 25, 2017 02:06
|
|
|
|
| # ? May 8, 2024 19:07 |
|
|
I am starting to doubt that star citizen will be released.
|
|
#
?
Jun 25, 2017 02:09
|
|
|
go home Derek. you're drunk.
|
|
#
?
Jun 25, 2017 02:10
|
|
|
Lladre posted:go home Derek. you're drunk. 
|
|
#
?
Jun 25, 2017 02:10
|
|
|
Can any of you imagine what would happen if there was a refund cascade about now?  I sense a disturbance in the  E; Page 1337 best page.
|
|
#
?
Jun 25, 2017 02:13
|
|
|
We all said when shroud of the avatar ran out of money and had to seedinvest, that it would be an insight into the future of CIG. I didn't think it would happen this quickly though, I was willing to give them another 2 weeks before they would have to start turning tricks in a back alley to keep their coke habit alive.
|
|
#
?
Jun 25, 2017 02:14
|
|
|
D_Smart posted: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? There's no way I could have guessed the year, but I did expect Chris to do whatever it took to maintain the illusion that he wasn't the biggest failure in the history of game development. Before he lies to anyone else he lies to himself. He lies about how he's competent, he lies about how he's successful, he lies about how his magnum opus is going to revolutionize gaming, he lies about everything. His only talent is self-delusion, of being so convinced by his own bullshit that he comes off as genuine to anyone he needs something from. Those who have already served their purpose are immediately disregarded for the next source of income. Original backers got screwed so that new backers could have previously limited features, older ships were abandoned for new concept sales, and now every backer left is screwed so CIG can enjoy a little more time on life support.
|
|
#
?
Jun 25, 2017 02:16
|
|
|
|
|
#
?
Jun 25, 2017 02:16
|
|
|
The gifs are amazing and this is such fun news to wake up to, but nobody is asking the real question. Does this mean Coutts can use Full Burn in advertisements?
|
|
#
?
Jun 25, 2017 02:16
|
|
|
Maw posted:Has anyone said 'the bankers will never know' yet? Yes, go back one page. Thread is back: https://www.reddit.com/r/starcitizen/comments/6j828y/cig_recently_took_out_a_loan_from_coutts_co_in/ page taxxe: 
|
|
#
?
Jun 25, 2017 02:18
|
|
|
XK posted:Account sharing. Normally it's a bannable offense but I'm in a good mood and I want to maintain the illusion that big brother had no idea what little bro was doing.
|
|
#
?
Jun 25, 2017 02:19
|
|
|
When it does start crashing down we should do a goon livestream with Derek. And just have a rolling slideshow of all the art/gifs we've made over the years for this "game".
|
|
#
?
Jun 25, 2017 02:21
|
|
|
I agree with this post. But I have to ask, have you tried Bailey's with a sliver of blue cheese and a dollop of plain yogurt? I hear the yogurt really carries the flavour of the blue cheese.
|
|
#
?
Jun 25, 2017 02:23
|
|
|
https://www.youtube.com/watch?v=4LZo9ugJTWQ&t=118s
|
|
#
?
Jun 25, 2017 02:24
|
|
|
spacetoaster posted:When it does start crashing down we should do a goon livestream with Derek.  .
|
|
#
?
Jun 25, 2017 02:25
|
|
|
Amazing Zimmo posted:I agree with this post. Gross, dude.
|
|
#
?
Jun 25, 2017 02:26
|
|
|
spacetoaster posted:When it does start crashing down we should do a goon livestream with Derek. Music for the slideshow... https://www.youtube.com/watch?v=1d4C1ZQKmw4
|
|
#
?
Jun 25, 2017 02:26
|
|
|
shrach posted:So it seems they ran out of money. But there is a good news. CIG uk has taken out a (presumably) big old loan, which you can take a look at on their filing. They have split the terms with F42 so you can read it in their filing too. The collateral for the loan? Everything. All game rights, recordings they've made including music, future tax credits, any insurance policies they've taken out. Any agreements they've made with anyone else (sponsors, membership fees). It's section 4 / 5. FYI, I stole your post here to update the drama thread. I feel like we should be adding more stuff to it as it will be our historical document of this fiasco. https://forums.somethingawful.com/showthread.php?threadid=3773270
|
|
#
?
Jun 25, 2017 02:26
|
|
|
Quavers posted:Yes, go back one page. Welp 
|
|
#
?
Jun 25, 2017 02:27
|
|
|
spacetoaster posted:When it does start crashing down we should do a goon livestream with Derek. I picture the end of it all like the Sopranos ending, where the camera lingers on that bunnyman jpeg while journey's "don't stop believing" plays over the top and then bang cut to black.
|
|
#
?
Jun 25, 2017 02:28
|
|
|
thread good again?
|
|
#
?
Jun 25, 2017 02:43
|
|
|
|
|
#
?
Jun 25, 2017 02:46
|
|
|
https://twitter.com/dsmart/status/878673089315385345 I think Derek's been dancing all day today, and feeding celebratory pineapple pizza to Legal
|
|
#
?
Jun 25, 2017 02:47
|
|
|
Xaerael posted:Music for the slideshow... I always thought this, but with the pictures in black and white
|
|
#
?
Jun 25, 2017 02:47
|
|
|
Beer4TheBeerGod posted:There's no way I could have guessed the year, but I did expect Chris to do whatever it took to maintain the illusion that he wasn't the biggest failure in the history of game development. Before he lies to anyone else he lies to himself. He lies about how he's competent, he lies about how he's successful, he lies about how his magnum opus is going to revolutionize gaming, he lies about everything. His only talent is self-delusion, of being so convinced by his own bullshit that he comes off as genuine to anyone he needs something from. Those who have already served their purpose are immediately disregarded for the next source of income. Original backers got screwed so that new backers could have previously limited features, older ships were abandoned for new concept sales, and now every backer left is screwed so CIG can enjoy a little more time on life support. And now he's going to try and screw the bank that gave him his loan so he can gently caress off to the Caribbean and leave them holding the bag
|
|
#
?
Jun 25, 2017 02:51
|
|
|
Guys, I just took a loan against all my worldly possessions. This proves, beyond a doubt, that I don't need any money. Just because you wageslave plebescrubs are too dumb to understand the complexity of high-level finances doesn't give you the right to run your low-class mouths with falsehoods. MoMA will back me on this.
|
|
#
?
Jun 25, 2017 02:52
|
|
|
Has anyone said "You dont understand loan development" yet?
|
|
#
?
Jun 25, 2017 02:53
|
|
|
I think the MoMA account will be mothballed while they scale back staff for the ELE
|
|
#
?
Jun 25, 2017 02:55
|
|
|
1337 dangerous
|
|
#
?
Jun 25, 2017 02:56
|
|
|
DoctorStrangelove posted:1337 dangerous 
|
|
#
?
Jun 25, 2017 03:02
|
|
|
I just want to ask a question about this, to the more knowledgeable financial Goons. I'm assuming the notes that have to be put in the "Brief description" are legally compelled by some kind of financial disclosure regulation. The specific lines they put in there are required by law from verbatim lists of required disclosures. If that is true, the one that specifies "all the property or undertaking of the company" is essentially a government required announcement that everything period is on the line.
|
|
#
?
Jun 25, 2017 03:02
|
|
|
starkebn posted:I think the MoMA account will be mothballed while they scale back staff for the ELE CIG staff, or contract outfits, don't work on weekends. Well, except maybe the monkeys working in the code mine. MoMA might show up on Monday. https://i.imgur.com/IsaT7zb.gifv XK fucked around with this message at 03:06 on Jun 25, 2017 |
|
#
?
Jun 25, 2017 03:03
|
|
|
XK posted:CIG staff, or contract outfits, don't work on weekends. Well, except maybe the monkeys working in the code mine. Of course he'll come in saying that he was enjoying his weekend, post a few recipes and completely ignore the news about the loan or delay
|
|
#
?
Jun 25, 2017 03:05
|
|
|
XK posted:I just want to ask a question about this, to the more knowledgeable financial Goons. No, you assume wrong, the reason all that info is there is because CIG is has the most open development ever.
|
|
#
?
Jun 25, 2017 03:06
|
|
|
XK posted:CIG staff, or contract outfits, don't work on weekends. Well, except maybe the monkeys working in the code mine. I would think he couldn't spin Chris Roberts putting the entire company, both games all entirely up as collateral for a loan if they didn't need money. But then look at reddit, they are flipping themselves over backwards explaining how this is a good thing for star citizen and obviously the bank just gave extra money Chris Roberts didn't need because the bank executives have the foresight to see how amazing the dream will be and just HAD to buy in however they could and never intend to call in the collateral.
|
|
#
?
Jun 25, 2017 03:10
|
|
|
Oh god I can't fap hard enough for all this.
|
|
#
?
Jun 25, 2017 03:12
|
|
|
So I'm reading through all those documents and I notice that in 2014 all the shares for foundry 42 were owned by Erin Roberts and two other people (who had a smaller amount of shares). Then there's a document transferring ownership of those shares to cloud imperium games. I'm assuming that cloud imperium games paid a lot of money for those shares.  Is that how they could be sucking money out of the "game" and getting it legally into their pockets?
|
|
#
?
Jun 25, 2017 03:14
|
|
|
spacetoaster posted:So I'm reading through all those documents and I notice that in 2014 all the shares for foundry 42 were owned by Erin Roberts and two other people (who had a smaller amount of shares). Yes, that would be one way to make payouts to people.
|
|
#
?
Jun 25, 2017 03:24
|
|
|
Beer4TheBeerGod posted:This just became my favorite probation ever. i deserve a forum badge for my hard work
|
|
#
?
Jun 25, 2017 03:24
|
|
|
|
| # ? May 8, 2024 19:07 |
|
|
XK posted:Yes, that would be one way to make payouts to people. also some of the older agent leaks said that the management were spending their personal money and paying themselves back at high interest rates from backer funds, so with this new loan a large percentage probably went directly to chris roberts and company for outstanding debts or something. Even before the golden parachutes and not including their already paid salaries.
|
|
#
?
Jun 25, 2017 03:26
|
|