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Thread: Star Citizen Thread v6

  1. #7411
    The funding tracker is obviously part of the marketing for the game, it is not trustworthy source. Besides the fact that the company does not make transparent where the data comes from feeding this tracker, it shows only progress and never decrease of funding. You can view it as a metaphor for the whole project marketing, there is no stagnation or decline, there is only progress and positivity, at least that is suggested.

  2. #7412
    Originally Posted by metatheurgist View Post (Source)
    It's like letting a company set it's own share price. Of course it's always going up.
    I end up flogging this book every time SC's finances and self-image is discussed, because it's just so topical on what kind of a mess this whole thing is starting to look like (and why). It's also a really good read outside of that topicality: https://www.amazon.co.uk/Conspiracy-...dp/0767911792/

  3. #7413

  4. #7414
    Originally Posted by Tippis View Post (Source)
    I end up flogging this book every time SC's finances and self-image is discussed, because it's just so topical on what kind of a mess this whole thing is starting to look like (and why). It's also a really good read outside of that topicality: https://www.amazon.co.uk/Conspiracy-...dp/0767911792/
    I've never read the book, but I did see the movie "The Smartest Guys in the Room"

    If you don't fancy reading a whole book on the subject then I can recommend this. I can remember the news reports of America suffering brown-outs and wondering what was going on.

  5. #7415
    Originally Posted by Lysander lysan View Post (Source)
    So why go to a bank to get more funding? ....if it walks like a duck, and talk like a duck......
    As far i understand it and please correct me if i am wrong.
    It was stated the loan was a way to get the taxreturns sooner. So they took out a loan that has the same amount of money they would get as taxreturn in order to get it sooner. Then when the taxreturn is due it will be used to pay back the loan.
    Together with currencystrenght they could potentially make profit out of it. The problem lies with them using their entire franchise as colleteral. So if they fail to pay back, which shouldnt happen under normal circumstances. They would loose all the licensing and rights for SC.

    Now at the end of august we have Ortwin, Chris Roberts and Erin Robers create a new company https://beta.companieshouse.gov.uk/company/10934694 with the nature of buisness "69109 - Activities of patent and copyright agents; other legal activities not elsewhere classified " it was mentioned here that this doesnt have to say much. But for me considering their loan and the creation of this company it could be used to transfer money out of the company before filing for insolvence. That would cause the bank to get the colleteral rights and auchtion them. Just for CLOUD IMPERIUM RIGHTS LTD. buying back the license and rights for SC without any liabilitys, backers ect.

    TAKE THIS WHAT I WROTE NOT AS FACT PLEASE.

    Most of it is my speculation because i dont trust CR or his practicses ONE BIT.

  6. #7416
    Originally Posted by Frank View Post (Source)
    I've never read the book, but I did see the movie "The Smartest Guys in the Room"

    If you don't fancy reading a whole book on the subject then I can recommend this. I can remember the news reports of America suffering brown-outs and wondering what was going on.
    Yes, it's basically a documentary version of a different book on the topic. I really just prefer Conspiracy because of the style it's written in: it's like a modern thriller — heroes and villains and victims and bystanders and all — but everything is based on years of journalistic and legal research.

    TSGitR gives a drier account, which is probably more accurate — or at least more clear about where the uncertainties are — but it also doesn't covey the human motivation and drama behind why everything ended up the way it did as well as Conspiracy does. Still a good read or watch too, though.

  7. #7417
    Originally Posted by Britney View Post (Source)
    The funding tracker is obviously part of the marketing for the game, it is not trustworthy source. Besides the fact that the company does not make transparent where the data comes from feeding this tracker, it shows only progress and never decrease of funding. You can view it as a metaphor for the whole project marketing, there is no stagnation or decline, there is only progress and positivity, at least that is suggested.
    So much this +1.

  8. #7418
    Originally Posted by Maruun View Post (Source)
    As far i understand it and please correct me if i am wrong.
    It was stated the loan was a way to get the taxreturns sooner. So they took out a loan that has the same amount of money they would get as taxreturn in order to get it sooner. Then when the taxreturn is due it will be used to pay back the loan.
    Together with currencystrenght they could potentially make profit out of it. The problem lies with them using their entire franchise as colleteral. So if they fail to pay back, which shouldnt happen under normal circumstances. They would loose all the licensing and rights for SC.

    Now at the end of august we have Ortwin, Chris Roberts and Erin Robers create a new company https://beta.companieshouse.gov.uk/company/10934694 with the nature of buisness "69109 - Activities of patent and copyright agents; other legal activities not elsewhere classified " it was mentioned here that this doesnt have to say much. But for me considering their loan and the creation of this company it could be used to transfer money out of the company before filing for insolvence. That would cause the bank to get the colleteral rights and auchtion them. Just for CLOUD IMPERIUM RIGHTS LTD. buying back the license and rights for SC without any liabilitys, backers ect.

    TAKE THIS WHAT I WROTE NOT AS FACT PLEASE.

    Most of it is my speculation because i dont trust CR or his practicses ONE BIT.
    If I take out a loan on a tax rebate, I won't need to give anything else than the friggen future tax rebate as collateral.

  9. #7419
    Originally Posted by Navigare Necesse Est View Post (Source)
    If I take out a loan on a tax rebate, I won't need to give anything else than the friggen future tax rebate as collateral.
    …unless the bank has reason to believe that you might not be around when the rebate would be paid out, or that by the time it comes, you still won't have enough cash on hand to pay the loan back. It rather makes you wonder what they were shown to make those kinds of demands.

  10. #7420
    Or simply that the tax credit hapenning is not guaranteed and therefore the bank needs additional collateral.

  11. #7421
    Originally Posted by Navigare Necesse Est View Post (Source)
    If I take out a loan on a tax rebate, I won't need to give anything else than the friggen future tax rebate as collateral.
    Originally Posted by Tippis View Post (Source)
    …unless the bank has reason to believe that you might not be around when the rebate would be paid out, or that by the time it comes, you still won't have enough cash on hand to pay the loan back. It rather makes you wonder what they were shown to make those kinds of demands.
    Originally Posted by Viajero View Post (Source)
    Or simply that the tax credit hapenning is not guaranteed and therefore the bank needs additional collateral.
    It is all a bit dodgy in my eyes. I don't trust them as far as I can throw them. And I have bought into Star Citizen, but at least it was only £30. It's looking more and more like a big scam at the moment.

  12. #7422
    Originally Posted by Maruun View Post (Source)
    As far i understand it and please correct me if i am wrong.
    It was stated the loan was a way to get the taxreturns sooner. So they took out a loan that has the same amount of money they would get as taxreturn in order to get it sooner. Then when the taxreturn is due it will be used to pay back the loan.
    Together with currencystrenght they could potentially make profit out of it. The problem lies with them using their entire franchise as colleteral. So if they fail to pay back, which shouldnt happen under normal circumstances. They would loose all the licensing and rights for SC.

    Now at the end of august we have Ortwin, Chris Roberts and Erin Robers create a new company https://beta.companieshouse.gov.uk/company/10934694 with the nature of buisness "69109 - Activities of patent and copyright agents; other legal activities not elsewhere classified " it was mentioned here that this doesnt have to say much. But for me considering their loan and the creation of this company it could be used to transfer money out of the company before filing for insolvence. That would cause the bank to get the colleteral rights and auchtion them. Just for CLOUD IMPERIUM RIGHTS LTD. buying back the license and rights for SC without any liabilitys, backers ect.

    TAKE THIS WHAT I WROTE NOT AS FACT PLEASE.

    Most of it is my speculation because i dont trust CR or his practicses ONE BIT.
    Not disputing what you write, but if a company need to take a loan to speculate in tax returns.....duckduck

  13. #7423
    Originally Posted by Tippis View Post (Source)
    …unless the bank has reason to believe that you might not be around when the rebate would be paid out, or that by the time it comes, you still won't have enough cash on hand to pay the loan back.
    Exactly! The surety on the loan would be the actual, guaranteed tax rebate owed to you. I can only guess that additional collateral would be required if the lender had any reason to doubt you'd have enough funds to stay solvent until you received it.


    Originally Posted by Tippis View Post (Source)
    It rather makes you wonder what they were shown to make those kinds of demands.
    Perhaps Coutts were treated to the Idris' buggy-killing ramp?

  14. #7424
    Originally Posted by Tippis View Post (Source)
    …unless the bank has reason to believe that you might not be around when the rebate would be paid out, or that by the time it comes, you still won't have enough cash on hand to pay the loan back. It rather makes you wonder what they were shown to make those kinds of demands.
    Well, Crobbers has a way of persuading people.
    He persuaded enough folks to give him $159m+ for his Porsche, holidays to Monaco, sliding door and Sandi's handbags....ooh and Star Citizen.

  15. #7425
    "Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and six pence, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

    Mr Micawber. From David Copperfield by Charles Dickens

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