As I have already pointed out twice - without figuring the expenditure on third party studios and external contractors into financial estimates, you cannot gauge the health of the company.
That figure is well hidden because the majority of external work has been canned - Ilfonic's Star Marine and the AI tech are notable examples, the motion capture too has a question mark beside it and has done since 2016.
Overheads are never calculated in these examples either, I've seen lots of them pop up over the years. It's an attempt to push out the 'warning date' for backers, to put a date out there and say "look, we're good until this date, you don't need to worry until then".
The most accurate way to think about their health with the least amount of assumptions is to estimate a monthly burn rate and compare it to their income tracker. Month by month, money in, money out.
I've had a few goes at this with some help and it puts you in the ballpark of each ship sale adding 2 or maybe 3 months to the project, Gamescon 2016 put them right into the new year. It works as a predictive tool for ship sales so I feel it isn't far off.
The Gamescon 2017 funding results are looking like just under $2 million, half of last year's.
So it doesn't surprise me and it is expected and natural to see backers reassuring themselves regarding the safety of their 'investment'. Those reassurances are on very shaky ground using data that is incomplete, unverifiable with multiple assumptions and guesswork.
I started from one assumption - they have the monthly income only, and I use estimates of their monthly burn. This is the 'least wrong' way of doing it.
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With the talk of 'investing' in the company I got to thinking. If whales view themselves as investors, albeit without any of the benefits and securities of being an investor, and CIG *use* them as investors, without any of the obligations and contractual arrangements attached to receiving investment - that would be a serious cause for concern. It essentially bypasses contracts entirely.
So this is something I intend to follow up and I'd love to learn where the notion of 'investing into Star Citizen' originated.
There were investors back in the early days, one who pulled his money out is well documented as is how poorly he was treated - so it makes sense to me that CIG think about whales as investors without any obligation to them, and whales think about their monthly expenditure as an investment with no guarantee of a return.
This arrangement appears to be keeping the project afloat when as far as anyone can see it's standard commercial pre-orders.
When did the talk of 'investment' appear?