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Dark Off posted:https://cloudimperiumgames.com/blog/latest-announcements/annual-companies-house-report 21.4 for the UK company, so you can add another chunk for the German and US offices/companies. I wonder if that 17 million is proportional to is size in the company as a whole. Highly speculative, but if so, that would put their annual costs at close to 60 million. You can almost smell the burn rate. EDIT: I borked my maths. Didn't pay attention to the pounds and dollars. Even so, its still a spicy meatball of a burn rate. Someone want to do the correct maths? Agony Aunt fucked around with this message at 15:13 on Oct 3, 2019 |
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Oct 3, 2019 15:11
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Agony Aunt posted:21.4 for the UK company, so you can add another chunk for the German and US offices/companies. I wonder if that 17 million is proportional to is size in the company as a whole. Highly speculative, but if so, that would put their annual costs at close to 60 million. Star Citizen = [(Chris Roberts)/0 * (Sandi)] - 300,000,000
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Oct 3, 2019 15:16
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NVM
skeletors_condom fucked around with this message at 15:29 on Oct 3, 2019 |
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Oct 3, 2019 15:17
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G0RF posted:YOUTUBE: The Eradictor — Star Citizen: Sandi Gardiner’s importance to the project I almost replied, but then i got towards the end and decided it has to be a joke or troll post. The bit about screenshots bringing tears to his eyes has to be taking the piss.
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Oct 3, 2019 15:22
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Agony Aunt posted:We are a gang? So, who is the capo dei capi? Lowtax's ex-wife.
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Oct 3, 2019 15:25
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Is there a President of Marketing? How come Sandi's just the VP?
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Oct 3, 2019 15:29
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Star Citizen: Facts are the worst kind of fake news!
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Oct 3, 2019 15:30
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Thom12255 posted:Is there a President of Marketing? How come Sandi's just the VP? VP gets more money. Surprising, I know. I imagine Chris is actual pres, though.
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Oct 3, 2019 15:34
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Agony Aunt posted:Actually, you kind of can. For all the mess that this is, it sounds pretty similar to avoiding a drag/stop bubble in EVE.
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Oct 3, 2019 15:54
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G0RF posted:This guy is a pullquote jukebox! The video brought so many great reactions. It's a hit !
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Oct 3, 2019 15:59
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Oh my god this tasty tasty drama. Star Citizen I love you. Don't ever change.
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Oct 3, 2019 16:02
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People who keep repeating "think about it" or "you know I'm right" to support their argument remind me of those american-exclusive gambling showmen, who spew endless dribble and keep shouting harshly inbetween: "BE A WINNER! BE A WINNER!"
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Oct 3, 2019 16:17
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Beet Wagon posted:That has to be somebody doing a bit lol, it's too perfect Again, is it satire, fact stranger than fiction? Who knows.
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Oct 3, 2019 16:25
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C-Bangin' it 
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Oh, were the banu the turtle people?
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Oct 3, 2019 16:27
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Agony Aunt posted:On my, the comments. Some people apparently don't want to know how their money is being spent. Maybe they will find out via Space Court discovery. Then they will wish they had asked more questions.
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Oct 3, 2019 16:32
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E:Welp wrong thread!
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Oct 3, 2019 16:55
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Agony Aunt posted:On my, the comments. Some people apparently don't want to know how their money is being spent. I think they realize how fragile their dream is and worry that any information (financial or otherwise) may shatter it. For most of the remaining backers the dream is what they're paying for, so it's better to keep buying fictional ships for Star Citizen than to discover that SC will never release.
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Oct 3, 2019 16:56
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ahh yes the somethingawful internet receipt which i keep in my wallet,next to my crusty picture of derek and sexy bears.
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Oct 3, 2019 17:02
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trucutru posted:So, £17M is $21M, right? (lol, you UK goons really hosed up). It's good to see that the branch that got 46% of the equity investment had costs of only £21.4M. If the UK "banked" £17m and that is $23m that would suggest an exchange rate of 1.35 usd to gbp. The share issue happened in May/June 2018 when the exchange rate dropped from around 1.4 to 1.3 so it seems to fit.
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Oct 3, 2019 17:13
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That's a lot of JPEGs
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Oct 3, 2019 17:16
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Here is the big mind blower for commandos everywhere. What state would CIG be in right now if they did not receive the influx of cash from the Calders.
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Oct 3, 2019 17:35
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monkeytek posted:Here is the big mind blower for commandos everywhere. What state would CIG be in right now if they did not receive the influx of cash from the Calders. They'd just lay people off to save money! This some how wouldn't effect the already glacial pace of development.
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Oct 3, 2019 17:36
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Hold on, so they are saying that at the end of december 2018 they were down to 2.9 million squid? Holy shiite! And that was after the Kraken sale which brought in many millions. So it was only the Calder investment that really was giving them a cushion... the Calder investment that definitely isn't being used for development and only for marketing. They are really going to have to put the con into con at citizencon. They must be running on fumes by now.
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Oct 3, 2019 17:40
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Nicholas posted:They'd just lay people off to save money! They could also work from home which would be a big money saver!
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Oct 3, 2019 17:41
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Oct 3, 2019 17:52
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Agony Aunt posted:Hold on, so they are saying that at the end of december 2018 they were down to 2.9 million squid? No, they are stating retained profit. So from company formation to the end of December 2018 their profit and loss accounts have shown cumulative retained profits of £2.9m (At December 2017 the cumulative figure was £3.75m). This is the first year their annual accounts will have shown a retained loss if and when they file them.
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Oct 3, 2019 17:58
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I wonder what Ben Lesnick, Star Citizen Community Manager(?) has to say about the financials https://twitter.com/banditloaf/status/1179229390846214144 huh....
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Oct 3, 2019 18:07
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Oh man, going through that thread, making the odd comment, and one thing that is standing out for me. The backers are now showing that the Calder investment wasn't just for marketing and implying the wording (further business development and other phrases) means it could be used for development. Ok, fair enough... just one small problem. Remember how after the Calder investment became public knowledge, it was those backers who were shouting how its only for marketing, CIG don't need that money, they have plenty in reserve. They just don't have a budget for marketing, so Calder investment is going to marketing. Absoloutely fascinating and either they were wrong before or they are wrong now.
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Oct 3, 2019 18:09
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shrach posted:No, they are stating retained profit. So from company formation to the end of December 2018 their profit and loss accounts have shown cumulative retained profits of £2.9m (At December 2017 the cumulative figure was £3.75m). This is the first year their annual accounts will have shown a retained loss if and when they file them. Ok, maybe you need to dumb it down for me a bit more, but what does it actually mean. They had 2.9 in the bank? They had more than 2.9 in the bank? How much?
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Oct 3, 2019 18:10
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Oct 3, 2019 18:21
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Star Citizen: Chris didn't lie, he just mislead 8 times in a row
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Oct 3, 2019 18:28
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Agony Aunt posted:Ok, maybe you need to dumb it down for me a bit more, but what does it actually mean. They had 2.9 in the bank? They had more than 2.9 in the bank? How much? However, in this case we have no idea if the dollar amounts that are transferred to the UK are a true reflection of the share of global ship sales/subscriptions or not. So since revenue is really just a reflection of how much money was transferred to the UK in order to pay bills as they become due, you cannot really say much about the UK trading position or profits as a whole. Accounting ahead: What happens is something like this. You're in the UK and you spend £20m out of your bank to run a business. You get your funds from the USA of dollars transferred and converted to £20m and that's it. Then 10 months after the year end your accountant goes through and prepares the accounts. Say you spent £1m on fixed assets, well that comes out of the profit and loss account and is replaced with a depreciation charge. Now your company has made a profit of £800k. Next your accountant says since you spent £20m of qualifying expenditure, you can get a tax credit of £4m. Now your company made a profit of £4.8m. And so on. So now your accounts will show, you made a profit of £4.8m and you have nothing in the bank, but you do have these assets on your balance sheet worth £4.8m that match your profits. While I have used rounded figures, this is literally what happened at CIG and lead to them restating earlier figures. Because the amounts transferred from the US to the UK are just a balancing figure to pay bills as they become due, the difference between accounting income and accounting expenditure does not mean much when taken in isolation.
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Oct 3, 2019 18:39
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Where in this report does it explicitly state the Calder investment funds?
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Oct 3, 2019 18:44
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Agony Aunt posted:We are a gang? So, who is the capo dei capi? But if we're a gang then that means... If the feds get one of us for FUD then they get all of us for FUD! That's it, I'm turning snitch. I won't go to FUD jail for you guys.
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Oct 3, 2019 18:45
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Hannibal Rex posted:Star Citizen: Facts are the worst kind of fake news! Sunk Cost Galaxy subjects you to the worst kind of fake news and it triples every second.
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Oct 3, 2019 18:48
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I'm starting to think that Star Citizen might not be released as advertised
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Oct 3, 2019 18:49
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Welcome to the
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Bootcha posted:Where in this report does it explicitly state the Calder investment funds? It's the second paragraph under the heading Business Review, but this isn't a report. It's a blog post. It is based on what should be a single page of their ~38 page financial accounts that they are overdue in filing with Companies House. https://cloudimperiumgames.com/blog/latest-announcements/annual-companies-house-report
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Oct 3, 2019 18:51
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So are all companies in the UK (including private limited) beyond a certain size required to file reports? I never understood why CIG UK even had to file reports if they are a private company.
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Oct 3, 2019 18:58
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shrach posted:It's the second paragraph under the heading Business Review, but this isn't a report. It's a blog post. It is based on what should be a single page of their ~38 page financial accounts that they are overdue in filing with Companies House. https://cloudimperiumgames.com/blog/latest-announcements/annual-companies-house-report Seems like CIG is frontrunning what is liable to be a less-than-glowing official report by putting out their own spin on things first.
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Oct 3, 2019 19:00
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made the mistake of trying out star citizen to see how far along it was (not very) and after being frustrated with how long it takes going from one place to the other (like 40 minutes unless you're a Big Bucks Spender with a big, fast ship) i had the even worse idea to share my frustrations in chat. people got really pissed off. this sucks it's really not fun but apparently it's not meant to be "fun"?
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