There aren't any liabilities. Pledges are gifts, remember!Crikey, it never ends.
I am confused though it who owns the liabilities? Presumably still CIG?
(I have no idea)
There aren't any liabilities. Pledges are gifts, remember!Crikey, it never ends.
I am confused though it who owns the liabilities? Presumably still CIG?
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.
[haha]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.
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?
I'm still laughing. She's quite annoyed - and apparently will be doing some youtube thing about it - that is all I know.
Most open development ever.
Backers and generally nobody have a clue whats going on. Wild theorycrafting in process. CiG goes into silence mode again.
It's not 'Batgirl' is it? [big grin]
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
[haha]
Source your quotes.
A quick recap here maybe, for us plebs who don't do Tw@ter?Yeah...who cares about the bank loan when you can see what Ben Lesnick&Sandi Gardiner just Tweeted.......
Yeah, no.The documentation of the loan and 20 years work experience.
You have 20 years of experience and genuinely thought CIG had gotten a .25% interest rate on their loan?The documentation of the loan and 20 years work experience.
...
- 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.
- 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
- 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.
A quick recap here maybe, for us plebs who don't do Tw@ter?
I love how many interpretations there are for this document that totally contradict each other [yesnod] the web never changes. If the security for the loan is basically everything doesn't that speak for a rather big chunk of cash?