Star Citizen Thread v6

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Most open development ever.



Backers and generally nobody have a clue whats going on. Wild theorycrafting in process. CiG goes into silence mode again.
 
You got it the wrong way around. The assets belong to Coutts & Co from now until CIG pay off the loan.

They license the IP back to CIG in the contract, so they can continue development. Those headlines aren't 100% hyperbole, in legal terms Star Citizen belongs to the bank. The backers are pretty much screwed if this goes under.

e:fixed because I can't see the future. They are screwed though.

Crikey, it never ends.

I am confused though it who owns the liabilities? Presumably still CIG?
 
Also, interestingly, does the funding tracker on their website take account of the refunds? I'm guessing Derek has attempted to track the financials - I'm guessing refunds don't show, other than a big black hole?
 
I got an email from a profoundly positive backer that is too NSFW to share here. Suffice it to say, she's now out too.

Five thousand USD.

My lulzbucket exploded.

So, after refunding money spent for a single computer game she can buy a used car. Pretty normal, are you sure your lulzbucket wasn't damaged already?
 
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My god, the doomsday patrol is really active.

- It's standard practice to set up EVERYTHING as security just so that the Bank has a means to demand payment from liquidated assets just so the loan taker cant just run away
- Banks today would NOT loan money to a company they view as a security risk
- It also means that F42 can now RAISE the loan at need as long as the total value to their security allows it.
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
- The loan will be tax deductable
- If F42 need money to finish the SQ42 game it's MORE expensive to MOVE money from the US to UK than taking a loan
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
- And no, the bank owns nothing of CIG, they have security of CIG assets in case of CIG failing to repay said loan

Source: My 20 years experience as an investment, financial and general banker.
 
My god, the doomsday patrol is really active.

- It's standard practice to set up EVERYTHING as security just so that the Bank has a means to demand payment from liquidated assets just so the loan taker cant just run away
- Banks today would NOT loan money to a company they view as a security risk
- It also means that F42 can now RAISE the loan at need as long as the total value to their security allows it.
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
- The loan will be tax deductable
- If F42 need money to finish the SQ42 game it's MORE expensive to MOVE money from the US to UK than taking a loan
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
- And no, the bank owns nothing of CIG, they have security of CIG assets in case of CIG failing to repay said loan

Source: My 20 years experience as an investment, financial and general banker.
[haha]
Source your quotes.
 
My god, the doomsday patrol is really active.

- It's standard practice to set up EVERYTHING as security just so that the Bank has a means to demand payment from liquidated assets just so the loan taker cant just run away
- Banks today would NOT loan money to a company they view as a security risk
- It also means that F42 can now RAISE the loan at need as long as the total value to their security allows it.
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
- The loan will be tax deductable
- If F42 need money to finish the SQ42 game it's MORE expensive to MOVE money from the US to UK than taking a loan
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
- And no, the bank owns nothing of CIG, they have security of CIG assets in case of CIG failing to repay said loan

Source: My 20 years experience as an investment, financial and general banker.

Thanks for that info.

"ducks head in sand. I'm not listening anymore lalalalala" - "Everything is normal, remain calm, there's nothing to worry about".

https://img.devrant.io/devrant/rant/r_10166_GmngH.gif
 
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Most open development ever.



Backers and generally nobody have a clue whats going on. Wild theorycrafting in process. CiG goes into silence mode again.

Yeah...who cares about the bank loan when you can see what Ben Lesnick&Sandi Gardiner just Tweeted.......
 
I wouldn't worry at all. Since at 60million crobbler said he had enough to fully fund the game even if he didn't get any more money.

*runs.
 
...
- The loan is at 0.25% which is not improbable with todays interest rates AND the ability as a customer to negotiate in todays extremely low interest rates
...
- With that low interest they can easily MAKE money by borrowing money and invest part of it to counter the low interest rate
...
Source: My 20 years experience as an investment, financial and general banker.

If you say so. Though I can't help wondering why banks would be lending out money at lower interest rates than they could earn by investing it themselves.
 
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