The Star Citizen Thread V10

[Fishy]

No change there, then eh?

Given that $46M is circa 18 months funding added to whatever they have left at the end of this year; that takes them through to release of Sq42...

So no need for any more ship sales, Yay!

I'm pretty sure he meant a lengthy single-player campaign, but it's of course easy to misread it as the fundraising campaign. [noob]

 

[Zetta]

That Forbes piece brings with it an unusually high amount of financial info (for SC standards that is):

By the end of 2017, the company brought in a total of $207 million and had spent $193 million since 2012. Capital on hand at the end of 2017 fell 26% to $14 million from the prior year. Total income—made up from fan pledges, its subscription pass and fan events like its annual CitizenCon event—has been consistent the past three years, with the company bringing in $44 million in 2017.

The majority comes from fan pledges. Backers can no longer directly donate to the company; they now receive something in return, be it the early-access version of the multiplayer for $45 or purchasing in-game assets like starships whose costs can rise into the hundreds of dollars. This year, the company matched 2017’s $35 million, calling December its best ever month for pledges.

The highest expenditure is on its staff, of which 85% were developers last year. With a headcount of 464 across five studios in 2017, salaries cost the company $30 million. Staff size has since grown to over 500. Other costs associated with development made up the second-largest line item, at $10 million.

If I read this correctly the article info pretty much supports those theories about SC having really used up most of the 200+ millions so far, high annual spend at the 40+ million per year, and being in a delicate situation to finish up without external help.

Looks like CIG has bought itself one more year (in addition to whatever it can still get with ongoing pledges). Really curious to know the conditions that huge sum came with. Going to be really interesting to see the evolution of the relationship between CIG, backers and all the new investors

Also... 8 years to get SQ42 at least (if there are no more delays).

It's nice to feel vindicated every now and then

 

[Cheapchips]

There's a hidden financial Easter egg in the SQ42 roadmap. Chapter 11 in the middle of 2020. ;-)

 

[Agony_Aunt]

Hey, anyone else remember when Chris Roberts said they could always release Sqaduron 42 and use the sales from that to complete Star Citizen?

 

[Dooguk]

A certain warlord, formerly of this parish, is going to have field day with this.

 

[Ian Skippy]

EDIT.. Calling it now. SQ42 won't get to chapter 28.

"But what really is a 'chapter'?"

 

[Jacques d'Orleans]

So they got nothing near release and SQ42 is scheduled for 2020 (beta?) which brings development to 9 years and running. In addition we all should know how reliable CiG schedules are so 2020 is with a high probability a no-show. I gotta say when it comes to fulfilling negative expectations CiG really shines Looks like this free-drama entertainment will stay for a couple more years....love it

I don't think they have the luxury to miss deadlines anymore, with venture capitlists representatives (Mr Offner and Mr. Klein) on the board, now there is someone there breathing down their necks.
Investors want something in return, they wan't the greenbacks and loads of and surely they don't gaf about Crobears vision.
I lean back and look how long it will take until Crobear will be reduced to Creative Director. /s

Another item checked off for discussion and looks like the skeptics were right again. "Pledges" on the RSI-store are actually SALES, this declared by CiG itself. ^^

The moment the CIG's Kickstarter campaign ended the pledges ended and every dollar they made afterwards was made thru sales, there was never even the slightest doubt about it, except for the truly faithful, ofc.
Personally it made me always smirk when some of the truly faithful were talking about their "investment by pledging", you invested jack, guys, pure jack. All you did was buying overpriced jpeg's.

 

[Ian Skippy]

Squadron 42 roadmap is up. I was expecting a 2020 release and the roadmap kind of confirms that. Sweet.

https://robertsspaceindustries.com/roadmap/board/2-Squadron-42

News are breaking!!!



https://www.forbes.com/sites/mattpe...-studio-behind-crowdfunded-game-star-citizen/

Lol, so 'beta' in 18 months and presumably release in two years. If everything goes well. I think literally everyone predicted the date to be some vague 'two years from now, pinky swear' date, as it has been two years from now for seven years or so. [haha] Not that I dont believe it, you could quite likely start today and have a single player shooter done in two years...

[edit] Chapter 1 will be 'white box playable' in a year. Just...[haha]

 

[MTBFritz]

A certain warlord, formerly of this parish, is going to have field day with this.

He already is I really should jump into his discord and play mouse ^^ I expect lengthy "i told you so" posts rubbing it in real good ^^

 

[Agony_Aunt]

The rest isn't legally required to disclose.

Looks like they had to release their global finances as part of an audit to get the investors on board.

And that burn rate.... maybe some recall discussions with some citizens over the the estimated burn rate and some of us were told we were wrong, that CIG still probably had lots of money left.

Ooops, looks like they didn't actually have that much money left after all. Worse than even some of the estimates done by skeptics.

Basically they must be desparate for cash with that burn rate, and even at best, 2020 for beta, not even release, so meaning 2021/2022 for actual release at best given CIG's agressive estimates. Even this bailout won't be enough by itself. They are going to need more investment from other investors i think, so CIG will have to sell off more shares, yes, selling the company to third parties that backers paid for in the first place.

Backers really should be howling at this point but looking at the threads, the faithful are doing Chris' work, assuring everyone this is good for Star Citizen... and i suppose they are right. Without this, it looks like they would be out of business in the coming year.

Still, funny to see Caymen Island Games have now aquired themselves what I presume is going to be very much like a publisher. They are going to want a return on their investment, and if they have any nouse, they are going to be telling Chris "No" a lot, otherwise Chris says bye bye to future money. They might only have 10% (or whatever the figure is), but its going to be a heavy 10% they can wield.

 

[Jacques d'Orleans]

So the only publicly filed and legally binding bit of that is the UK operation?

Yes, that's correct, the UK filings are only for the UK Foundry 42, not for F42 Germany and not for CIG in the US. Filings both in Germany and the US are not publicly available.

No change there, then eh?

Given that $46M is circa 18 months funding added to whatever they have left at the end of this year; that takes them through to release of Sq42...

So no need for any more ship sales, Yay!

Maybe I miss the sarcasm, but you don't really think that the ship sales will stop, do you?

Looks like they had to release their global finances as part of an audit to get the investors on board.

To get Investors onboard you release your fianicialy to the investors but not the public, but as I said before, next step could be going public and therfor you need to publicise your financials.

A certain warlord, formerly of this parish, is going to have field day with this.

Let me quote the great american philosopher, author and thinker "Macho Man" Randy Savage: "Oh, yeeeeeeahhh digit yeeah!"

 

[Dooguk]

Lol, so 'beta' in 18 months and presumably release in two years. If everything goes well. I think literally everyone predicted the date to be some vague 'two years from now, pinky swear' date, as it has been two years from now for seven years or so. [haha] Not that I dont believe it, you could quite likely start today and have a single player shooter done in two years...

Not forgetting that the sales of SQ42 pays for the development of Star Citizen. So when is that getting released?

 

[Ian Skippy]

Not forgetting that the sales of SQ42 pays for the development of Star Citizen. So when is that getting released?

Its already released, you can play it right now!

 

[Dooguk]

Maybe I miss the sarcasm, but you don't really think that the ship sales will stop, do you?

But the buying of them might.

 

[Tuub t Tute]

<snip>
Maybe I miss the sarcasm, but you don't really think that the ship sales will stop, do you? <snip>

Sorry, yes I should have added a /Paul Merton Eye Roll to that comment

 

[Tuub t Tute]

Do we think it is okay to say "The pipelines are now finally in place"?

Or would that be a bit too definite?

 

[sovapid]

So, 90 days tops, right?

 

[Dooguk]

Its already released, you can play it right now!

Totally goes against everything Crobber said doesn't it? How they had enough money to finish SQ42 and that would fund SC. Again what if SQ42 flops?

 

[Agony_Aunt]

So, 90 days tops, right?

That's old hat now. Let's see what the warlords latest prediction will be!

 

[Jacques d'Orleans]

Backers really should be howling at this point but looking at the threads, the faithful are doing Chris' work, assuring everyone this is good for Star Citizen... and i suppose they are right. Without this, it looks like they would be out of business in the coming year.

To say it bluntly, without the investors throwing their hat into the ring DS would have been right with CIG going out of business in late 2018/early 2019.