Game Discussions Star Citizen Discussion Thread v12

Cosmo

Cosmo
VR Golgot said:
Just having a quick dip through the accounts again, and I noticed the burn rate in 2023 was roughly £6.6m.(So ~$8.3m in 2023 money).
Click to expand...

The Calders loaned CIG another £10 mil ($13 mil). The number of employees (854) and operative costs ($86 mil) increased too. "On 03 March 2025, the group has drawn down £10 million under a loan facility entered into with an existing shareholder and the principal is repayable in full on 31 December 2027."

CIG has raised over $800 mil, but they've also spent most of it. So the Calders are the reason CIG is not closed down yet. It seems like CIG must release SQ42 before 31 Dec 2027, because 277,500 shares are exercisable by that date. The Calders loan is repayable by the end of 2027.
 
Last edited:

Viajero

Volunteer Moderator
Viajero
Cosmo said:
The Calders loaned CIG another £10 mil ($13 mil). The number of employees (854) and operative costs ($86 mil) increased too. "On 03 March 2025, the group has drawn down £10 million under a loan facility entered into with an existing shareholder and the principal is repayable in full on 31 December 2027."

CIG has raised over $800 mil, but they've also spent most of it. So the Calders are the reason CIG is not closed down yet. It seems like CIG must release SQ42 before 31 Dec 2027, because 277,500 shares are exercisable by that date. The Calders loan is repayable by the end of 2027.
Click to expand...
Just to clarify. Unless I missed it the filing does not say which shareholder loaned the 10 mill. For all we know it could have been Chris Roberts himself after asking for a loan to the bank himself using his own CIG derived assets as collateral. I mean, it’s possible but I would be somewhat surprised if the Calders are putting more money into this pit after zero alleged returns over 7 years for their 60 mill. If they have had other means of returns in the intervening years then all bets are off of course.
 
Last edited:

Agony_Aunt

Agony_Aunt
Viajero said:
Just to clarify. Unless I missed it the filing does not say which shareholder loaned the 10 mill. For all we know it could have been Chris Roberts himself after asking for a loan to the bank himself using his own CIG derived assets as collateral. I mean, it’s possible but I would be somewhat surprised if the Calders are putting more money into this pit after zero alleged returns over 7 years for their 60 mill. If they have had other means of returns in the intervening years then all bets are off of course.
Click to expand...

That was the theory by Tony from Guard Frequency. That Chris himself loaned the money to the company.
 

VR Golgot

VR Golgot
Cosmo said:
The Calders loaned CIG another £10 mil ($13 mil). The number of employees (854) and operative costs ($86 mil) increased too. "On 03 March 2025, the group has drawn down £10 million under a loan facility entered into with an existing shareholder and the principal is repayable in full on 31 December 2027."
Click to expand...

As the others say, we still don't know for definite which shareholder stuck the £10m in. (Klein is probably the third one in the running).

But the loan tells the tale for sure. Reserves are doubtless low. And CIG's road to release is doubtless long ;)

Cosmo said:
CIG has raised over $800 mil, but they've also spent most of it. So the Calders are the reason CIG is not closed down yet.
Click to expand...

On this for sure. They are the project's saviours sinch 2018. (Leaving CIG free to burn another 6yr+ of cash ;))

Cosmo said:
It seems like CIG must release SQ42 before 31 Dec 2027, because 277,500 shares are exercisable by that date. The Calders loan is repayable by the end of 2027.
Click to expand...

Yeah, there's still some fuzz around when the FY2025 financial statements will be delivered. (Do they mean delivered internally? Could be earlier than 2027 then etc).

But the put options are def still in play. No rest for the wicked ;)
 

Hank

H
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
 

VR Golgot

VR Golgot
Hank said:
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
Click to expand...

Wait for a freefly event my friend. There'll be one soon. (Along with the ship sale ;)).

(Or check live Twitch streams rather than edited YT vids. Can give you a more accurate impression).

There is a janky space sandbox there to enjoy, if you like certain flavours of gameplay. (And can trade the vibe off against the dysfunction ;)).

If you always assume that their dev projections will be deeply wrong, and their updates always deeply alpha (IE bug infested), you'll be fine.

If you spend $$$ based on their future plans alone though, that's when you can find yourself getting bit ;)
 

Viajero

Volunteer Moderator
Viajero
Hank said:
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
Click to expand...
Yeah, some could argue SC promotional videos may even construe misleading or false advertising. As others have said, the best course of action is probably not to spend a single dime and rather try it in one of the frequent “free fly” events first.

Having said that, the state of the game is so poor that they had to even cancel the last free fly event…
 

alyandon

alyandon
Hank said:
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
Click to expand...
I originally backed the game and have spent many hours playing it but my patience to look past the bugs and jank has pretty much evaporated over the years. I only bother to check back in every 3-6 months these days and it is really only fun for me if I'm playing with a group of people because so many of the fundamental game play loops (like various missions) are just broken.

When CIG has a major release and they refresh/reset the servers the game runs more or less bug free for a period of time (usually a few days) before it all goes to hell and all the old bugs start showing up again due to corrupted replication state and desyncs. During that window, you can kind of get a feel for what CIG is trying to accomplish and there really isn't anything quite like it. All that being said, I don't have any confidence CIG will be able to ever produce something that is polished enough to justify sinking more money into it.

I've had more fun playing ED and if ED had a better multiplayer and FPS experience I'd never look at SC again.
 

Agony_Aunt

Agony_Aunt
alyandon said:
I've had more fun playing ED and if ED had a better multiplayer and FPS experience I'd never look at SC again.
Click to expand...

As someone who doesn't really care about the multiplayer experience in ED even I say that it needs massive improvements. Maybe the new feature this year will help with that.

The FPS experience is.... ok-ish, but could be better.
 

rootsrat

Volunteer Moderator
rootsrat
Hank said:
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
Click to expand...
As someone who checks back every few months and also leads a community, where a small group of players play SC on regular basis - no.

The more or less same bugs are keeping it barely playable pretty much constantly. There is a very long list of "health and safety" and workarounds to make the demo (I refuse to call it a game) somewhat more playable.

If you have a group of friends and are ready to suffer constant waste of time, go for it. Personally I think it's a waste of time and money.
 

Mole HD

Mole HD
Hank said:
Is this a good time to get SC ?
I've never played it. In 2015, I decided to go with ED instead of SC. I'm happy with that decision. But, the vids I watch about SC today are quite impressive.
Have a great day
Click to expand...
My honest advice, as a long time (long suffering) star citizen backer and thrower of way more than average $ into the project over the years...steer well clear.

Backing star citizen...or more accurately...Chris Roberts efforts in company and game development mismanagement isn't a project to buy into because it looks 'interesting'. There's fun to be had on the occasional play session with friends, sure, and always has been over the years but certainly more misery than joy dealing with an ever collapsing game development process dogged by repeatedly bugged patch releases all revolving around marketing focussed, heavily curated tech demo videos and cash grab ship sale events. There's no signs of that changing over the long or short term either.

It's not one to dip toes into unless your disposable income far exceeds your common sense :)
 
Last edited:

VR Golgot

VR Golgot
Doesn't help that a chunk of your money will be spent on this ;)

Mangostone 2022.PNG
 

Cosmo

Cosmo
Is Star Citizen now a British game since the majority of development is in the UK?

Mark Your Calendars: CitizenCon Direct Lands October 11
  1. "While there won’t be a traditional in-person CitizenCon in 2025, we’re thrilled to introduce CitizenCon Direct—a special digital showcase that brings the excitement straight to you"
    1. So Citizencon 2025 is digital only (online) - CIG is cutting costs.
  2. "We push forward. Squadron 42 is progressing well as we work toward next year’s release"
    1. This means SQ42 releases in 2026, but another delay could happen anyway.
 
Last edited:

PiLhEaD

PiLhEaD
Cosmo said:
..."We push forward. Squadron 42 is progressing well as we work toward next year’s release"...
Click to expand...
From the Book of Roberts, chapter 1, verses 1 through 42:

...as things were in the beginning, so they shall be at the end.... and maketh that pixel blue... to thence go forth and buyeth thee another Idris.... for blessed be the bottomless fires of the money furnace... now rinceth and repeateth, and may the refactor be with you now and always... gawd help us, and you, and so long and thanks for all the fish cash...
 
You must log in or register to reply here.
Back
Top Bottom