The Star Citizen Thread V10

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Equity crowdfunding? Is this just a fancy term for milking backers for all they can spare?

Direct link to the article: https://www.forbes.com/sites/howardmarks/2018/12/19/what-is-equity-crowdfunding/#487641953b5d

Could it be that they got Mr.Offner on board because the'll try to go public in the nearer future? FYI see point two from the direct quote.

Direct quote from above linked article:

"For investors, the process of investing in equity crowdfunding is straightforward, but on the other end there are certain regulatory requirements entrepreneurs have to follow.
There are two routes entrepreneurs can take::
  1. Regulation Crowdfunding - through which companies can raise up to $1.07M annually. Companies can start raising capital for free after filing a Form C with the SEC, but to raise more than $107,000, an independent CPA must review the company's financials for the past two fiscal years, or since incorporation.
  2. Regulation A+ - the mini IPO, through which companies can raise up to $50M annually. However, before a company can start raising capital under Regulation A, the company must hire a securities attorney in order to create a Form 1-A that is then submitted to the SEC for qualification (qualification takes 3-5 months at minimum). Companies also have to conduct a financial audit for the past two fiscal years. Companies are able to "test the waters" and publicly collect investor information for the moment when their offering is qualified by the SEC, but they cannot raise capital until then." /end quote
 
Could it be that they got Mr.Offner on board because the'll try to go public in the nearer future? FYI see point two from the direct quote.

Wouldn't going public require a level of legally mandated transparency and scrutiny that the type of organization that operates more than a dozen shell companies seeks to avoid?
 
Wouldn't going public require a level of legally mandated transparency and scrutiny that the type of organization that operates more than a dozen shell companies seeks to avoid?

Yes, but realising that also requires a level of insight that the executives at Cayman Island Games have shown to be lacking.
 
It does, however, take a big brass pair to sell off your crowdfunded company for personal gain whilst continuing to crowdfund the company.

The man is a total {REMOVED BY SWEAR FILTER}.

My initial thought when I heard about the management selling shares was "EXIT STRATEGY" but we are only talking about roughly 10% here, thats not much of a firesale IMO. It does help with liquidity in the short term tho. I m not surprised that they did it, financial problems were projected for years already despite all the claims of "healthy and financially secure" humbug voiced in the face of logic. Did CiG address this issue in a public statement in the meanwhile? I didnt see anything but maybe only the "worthy" people got mail?
 
Wouldn't going public require a level of legally mandated transparency and scrutiny that the type of organization that operates more than a dozen shell companies seeks to avoid?


As long as he doesn't use them for illegal activities operating a shell company (which we are assuming they are) itself is not an illegal act, so as of right now they're just another start up who tries his luck with an IPO (if they choose to do so, that is).


Nice try, but i'm not giving DS any clicks.

No need to do so, it's the latest Companies House filings from F42.

Did CiG address this issue in a public statement in the meanwhile? I didnt see anything but maybe only the "worthy" people got mail?

As they are not a public company, there is no legal obligation to make anykind of public statements regarding their business. They're running a LLC (as of now) not a PLC.
Also, why should they? The truly faithful accept everything anyways without further ado, as always I might add.
 
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As they are not a public company, there is no legal obligation to make anykind of public statements regarding their business. They're running a LLC (as of now) not a PLC.
Also, why should they? The truly faithful accept everything anyways without further ado, as always I might add.


Yeah I m still hung on the "treat backers with respect" and "be the most open development ever" bits. I know I know totally outdated concepts which CiG never really showed anyway. I m just throwing it out from time to time to remind the shills and fanatics who read this that the best ever game dev company in history runs on the same stuff then any other company.
 
Could it be that they got Mr.Offner on board because the'll try to go public in the nearer future? FYI see point two from the direct quote.

Direct quote from above linked article:

"For investors, the process of investing in equity crowdfunding is straightforward, but on the other end there are certain regulatory requirements entrepreneurs have to follow.
There are two routes entrepreneurs can take::
  1. Regulation Crowdfunding - through which companies can raise up to $1.07M annually. Companies can start raising capital for free after filing a Form C with the SEC, but to raise more than $107,000, an independent CPA must review the company's financials for the past two fiscal years, or since incorporation.
  2. Regulation A+ - the mini IPO, through which companies can raise up to $50M annually. However, before a company can start raising capital under Regulation A, the company must hire a securities attorney in order to create a Form 1-A that is then submitted to the SEC for qualification (qualification takes 3-5 months at minimum). Companies also have to conduct a financial audit for the past two fiscal years. Companies are able to "test the waters" and publicly collect investor information for the moment when their offering is qualified by the SEC, but they cannot raise capital until then." /end quote

Sounds like this offner guy is thinking pump and dump.
 
Yeah I m still hung on the "treat backers with respect" and "be the most open development ever" bits.

Well, in front of a jury one could argue that he didn't lie when he claimed "the most open development ever". That could fly.
Other than that there is no obligation to tell the bakers anything regarding the rest of the company, even if he stated it in the TOS in regards to the finances of CIG, which is unenforcable anyways, so there wasn't even a need to change the TOS removing that part.
And to be frank "treating our customers backers with respect" is one of the most overused PR word balloons worldwide, anybody who really believes such PR-speak should seek medical health asap.
 
PTU patch K is out. Drugs are really popular in SC before regulation kicks in. [big grin]

New "goods".
jl6mfusyhd521.jpg
Massivelyop talks about MMO music and mentions Star Citizen. I personally love Pedro's more ambient tracks compared to the bombastic ones.

Even though this is still very much a work-in-progress, Star Citizen’s soundtrack is already six kinds of amazing with the kind of range and production values that many MMOs would love to have. Space MMOs have not always had the best of scores (see Elite: Dangerous, Earth and Beyond), but this bodes really well for the soundscape that RSI is putting together.

Source: https://massivelyop.com/2018/12/18/massively-ops-2018-mmo-video-game-music-awards/

[video=youtube_share;bEbIyy23_kQ]https://youtu.be/bEbIyy23_kQ[/video]

Also massively began a playthrough where you can vote for what they should do in-game.

There’s a rather popular quote in military circles that goes “no plan survives contact with the enemy.” This quote springs to my mind as I recount my latest Star Citizen escapade as chosen by you fine folks because my attempt to make money via Jumptown drug running went absolutely haywire. That said, I legitimately ended up having possibly more fun participating in this comedy of errors than I would have if things had gone to plan.

https://massivelyop.com/2018/12/18/...-am-not-good-at-drug-running-in-star-citizen/

Instructions, testing focus, major known issues.
Alpha Patch 3.4.0k has been released to the PTU, and is now available to test! Patch should now show: PTU-1027227.

It is strongly recommended that players delete their USER folder for the Public client after patching, particularly if you start encountering any odd character graphical issues or crash on loading. The USER folder can be found (in default installations) at C:\Program Files\Roberts Space Industries\StarCitizenPTU\LIVE.

Please monitor ptu test chat in spectrum for updates and testing instructions.

USER.cfg settings:
r_displayinfo = 3

Testing Focus
  • New Ships: Hawk, Freelancer variants, 600i Touring
  • Lorville Central Business District
  • Hurston mission variants (bounty missions, downed relay missions, FPS AI missions, delivery missions, scramble races)
  • Mission Givers: Wallace Klim, Clovus Darneely
Major Known Issues:
FOIP/VOIP are temporarily offline.
Unable to buy commodities at CBD.
Mission markers will sometimes fail to appear. W/A: On the mobiGlas, untrack and retrack the mission to generate a marker.
Klim may ocasionally be facing the wrong way.
Ruto's hologram currently doesn't appear.
FPS AI are not responding correctly.
AI ships are often observed not moving.
The 600i's lifts may be missing interaction prompts.
Feature Updates
Universe

  • Removed the Secondlife undersuit from the Tammany and Sons shop in Lorville.
  • Updated various animations for Constantine Hurston.
Missions
  • Added Hawk, Eclipse, Arrow, and Terrapin to ship scramble race option.
UI
  • Slightly decreased the size of QT markers.
  • Made the video call feed on direct P2P comms calls less transparent.
Bug Fixes
  • The drug bag from Klim's mission should no longer be offset in the player's hands.
  • There should no longer be replaceme balls in Klim's area.
  • Canceling quantum travel while enroute to one of the OM points should no longer teleport the player to a random far-off location.
  • Switching into Gyro mode on some ship turrets should no longer cause the player's view to look straight up/down.
  • Fixed price discrepancy between CBD and Lorville Admin for Agricium.
  • The first player to join a party should no longer be kicked out by additional joins.
  • Fixed personal elevator, lift, and landing gear height on the 600i.
  • Players should no be able to purchase cargo at Lorville for ships that haven't been spawned yet.
  • Airlocks should now properly light state switch when cycling.
  • Newer ship weapons should now correctly mount and fire in the correct direction in Arena Commander.
  • Hostile target marking should now work properly.
  • Mission descriptions should now be present for underground facility missions.
  • The patrol mission should now properly progress after eliminating all hostiles.
  • Fixed AI kill counter not updating when the AI are killed by non-mission participants.
  • One of the downed relays should now have proper lighting around it at night.
  • The terminal holding the disks for the downed relay missions should no longer become unusable after attempting to interact with it.
  • UI elements that included the wave counter in swarm modes, the capture UI in Star Marine, and the race UI in classic race should now be present.
  • NPCs should be properly moving now in the lower sections of Levski.
  • Fuel requirements shown on multi-step jumps on quantum routing should no longer display in red text even if the player has enough fuel for each jump.
Technical
  • Fixed 5 client crashes.
  • Fixed 3 server crashes
 
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Well, in front of a jury one could argue that he didn't lie when he claimed "the most open development ever". That could fly.
Other than that there is no obligation to tell the bakers anything regarding the rest of the company, even if he stated it in the TOS in regards to the finances of CIG, which is unenforcable anyways, so there wasn't even a need to change the TOS removing that part.
And to be frank "treating our customers backers with respect" is one of the most overused PR word balloons worldwide, anybody who really believes such PR-speak should seek medical health asap.

I dont really care if he is "technically" or "legally" in the clear. And stating "you should ve known better" doesnt make all of this okay either so that "seek medical health" statement is putting the blame on the victim. By now I know that there is nothing to expect from CiG then lies and propaganda, but it still generates animosity, disappointment and bad publicity. You are arguing a view that would ve made Star Citizen impossible in 2012 because the project was resting on peoples goodwill back then. Suddenly making a 180 and saying "haha, joke is on you for being so naive...now BEEP off" as soon as things dont go as planned.

I know that Scam Roberts wont be trialed for this, he has a shady lawyer on his payroll after all knowing all the tricks. But even tho he might be legally in the "clear" I like to remind random viewers whats what so they dont stumble into all the PR and propaganda-trap. Not everybody playing video games today is a survivor and old dog. Some are just kids believing what adults tell them.
 

Viajero

Volunteer Moderator
With regards to the greatly awaited SQ42 roadmap this week I fully expect CIG to state a delivery within 2019 to maintain hype levels and related pledging, even if totally unrealistic. Fans seem to be completely insensitive to roadmap delays or lies so it will cost CIG next to nothing to either delay it or just release poor quality as usual.
 
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With regards to the greatly awaited SQ42 roadmap this week I fully expect CIG to state a delivery within 2019 to maintain hype levels and related pledging, even if totally unrealistic. Fans seem to be completely insensitive to roadmap delays or lies so it will cost CIG next to nothing to either delay it or just release poor quality as usual.

At this rate we'll be lucky if we get the roadmap in 2019...
 
With regards to the greatly awaited SQ42 roadmap this week I fully expect CIG to state a delivery within 2019 to maintain hype levels and related pledging, even if totally unrealistic. Fans seem to be completely insensitive to roadmap delays or lies so it will cost CIG next to nothing to either delay it or just release poor quality as usual.

Remember "Answer the call 2016"? Remember when it was gonna come out just before the end of the year, and they got "so close" to releasing it? Now, 2 years later, still nothing. Honestly, all that's missing is the "dog ate my homework" excuse, like maybe someone could've deleted all their sourcecode by accident and they had to start over, or something along those lines.
 
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