Game Discussions Star Citizen Discussion Thread v12

[rootsrat]

Man, I would back a crowdfunded series about this project

Directed by Rris Choberts.

 

[sovapid]

We did see it. The faithful refused to listen to us and called us FUDsters.

Isn't it great not having a publisher push you to make a release?

Also, the bit about how investors might have already got some money from sales kind of makes it worse. The more investors have already got, it means that CIG have less cash available since they still can't pay the lesser amount.

i dont listen to y'all on stuff like this because of statements like this:

Someone in the comments points out that the report finally proves Chris was lying about the Calder investment (loan) being for marketing and business development.

which is so impossibly dumb it invalidates anything else said.


SC is great for creating internet experts. Y'all are now super accountants.

And the you have the SC fans who are out there making technical videos about how server meshing and persistence are working of some powerpoint slides.

 

[Agony_Aunt]

i dont listen to y'all on stuff like this because of statements like this:



which is so impossibly dumb it invalidates anything else said.


SC is great for creating internet experts. Y'all are now super accountants.

And the you have the SC fans who are out there making technical videos about how server meshing and persistence are working of some powerpoint slides.

So you don't think CR lied about what he was doing with the Calder investment?

Fair enough.

Anyway, have I got an offer for you!

 

[Viajero]

i dont listen to y'all on stuff like this because of statements like this:



which is so impossibly dumb it invalidates anything else said.


SC is great for creating internet experts. Y'all are now super accountants.

I get you. But, to be fair, I think you should listen in this particular case. It seems the "y´all" was pretty much on the money when this was first discussed with you circa 2020.

You seemed to think the Calders had simply taken an equity position. No special terms for returns or the like. Just equity.

Some of the "y´all" doubted that very much. Investors generally look for a return and since CIG shares are not publicly traded or easily sold there were likely going to be conditions attached such as pre agreed returns for preferred shares or buy back options or similar. These in fact behave very similar to loans. They represent a liability, although in case of bankruptcy proceedings they are not as high in the pecking order. Actual loan holders are.

You were told so, repeatedly, although you doubled down in thinking this was just a regular share position with no strings attached. The "y´all" tried its very best to make you see reason.

I hope that by now with hindsight it is clear that, at least on this specific topic, the "y´all" had some valid points.

 

[sovapid]

I get you. But, to be fair, I think you should listen in this particular case. It seems the "y´all" was pretty much on the money when this was first discussed with you circa 2020.

You seemed to think the Calders had simply taken an equity position. No special terms for returns or the like. Just equity.

not looking at the rest of this. no where did i say there were no special terms. i said they took an equity position.


i put all the money to open a bar. fronted it for people who know how to run a bar. i got a 10% equity stake. as part of the agreement, i get made whole (get back all the money i put in) before we start(ed) doing payouts based on actual ownership. so at first i didnt get 10% of the profits, i got all of them. it still isnt a loan. it is an equity position.


as a side note, dont open a bar right before a global pandemic.

 

[sovapid]

oh, and now that i have been made whole. im sure they would love to turn it into a loan. since i get 10% of the profits from now until the bar shuts down which could be never.

 

[Viajero]

not looking at the rest of this. no where did i say there were no special terms.

Well, you scoffed at most any argument suggesting there were any kind of special terms. Would be a pretty weird way of agreeing that there were, but you do you.

 

[sovapid]

where?

i have no doubt there are terms around the investment.

 

[sovapid]

and to be clear, the caulders "loan" is at 6% a year? i think ive read that in here. you really think they are that dumb to just do a simple loan with only 6% return? on something as risky as SC?

if they had just put the money in the S&P 500 (about as low risk as you get for "risky" investments) they'd would have gotten 12.5%.

 

[Viajero]

where?

Well this one was a particularly good one:

Calders' have a 10% stake that clearly has terms and conditions attached. They will expect to see a suitable return for their risk. We have no idea what the t&c's of their investment is. If CIG was in a bad state these terms could be worse than a straight commercial loan, particularly if the lenders of first resort (banks etc) weren't interested. CiG wouldn't be the first business to have this problem.

hahahahahahaha

A few more also around the same pages.

i have no doubt there are terms around.

And I am so glad that you now do!

 

[Viajero]

and to be clear, the caulders "loan" is at 6% a year?

It has a few more conditions attached than that apparently, outlined by CIG themselves. We have a limited view on those in Note 28 of the report.

 

[VR Golgot]

i put all the money to open a bar. fronted it for people who know how to run a bar.

If only Chris could organise a p*ss up in a brewery

and to be clear, the caulders "loan" is at 6% a year? i think ive read that in here. you really think they are that dumb to just do a simple loan with only 6% return? on something as risky as SC?

6% is their minimum on the put option. There's a 3-yrs--of-prior-revenue calculation that could supercede it.

(That's what it reads like with my superaccountant hat on anyway )

 

[ECity]

No Progress Tracker updates this week as work continues on long-term planning.

 

[StuartGT]

Spectrum - v7.52.0

RSI’s Spectrum is our integrated community and player interaction service, including chat, forums, game integration, and Player Organization facilities. Player Organizations (“Org”...

robertsspaceindustries.com

Roadmap to the Roadmap v2 - The 1.0 Strikes Back

 

[thistle]

It's an interesting way to work, throw all the effort into one thing, then a year later everyone moves on to another thing. But the first never gets finished, apparently.

 

[StuartGT]

 

[ECity]

Exploring a potential roadmap to the roadmap.

 

[Factabulous]

In many ways getting 1.0 ready* for when SQ42 is coming out Q1 2025* would make sense - use SQ42 to lure people into the 'now complete' PU*.

* <spiderman laugh.gif>

Damn this project is a train wreck

 

[Viajero]

That 1.0 impact to the tracker was not present when the usual discussions on the tracker break happened before year end. The Letter from the Chairman thing completely out of season and out of the blue too. This seems like a sudden, or at least very recent, change of course. Forced even.

 

[Navigare Necesse Est]

not looking at the rest of this. no where did i say there were no special terms. i said they took an equity position.


i put all the money to open a bar. fronted it for people who know how to run a bar. i got a 10% equity stake. as part of the agreement, i get made whole (get back all the money i put in) before we start(ed) doing payouts based on actual ownership. so at first i didnt get 10% of the profits, i got all of them. it still isnt a loan. it is an equity position.


as a side note, dont open a bar right before a global pandemic.

It's more like a mezzanine capital. Equity doesn't earn you special payouts, only dividends. Equity is "eternal" by nature. Non-redeemable, no paybacks. Getting "made whole" makes it a loan-like, and thus the whole thing is a mixed form of capital.