Star Citizen Breaking News

[dsmart]

GuardFrequency did a stream yesterday about this.

https://www.twitch.tv/videos/349267422?t=01h14m05s

[dsmart]

But how can they take money out of a company that has no money?

Jesus fucking Christ! Seriously?

CIG	113861	£17,037,021.43
Chris	14598	£2,184,298.74
Errin	1301	£194,668.63
Ortwin	2601	£389,187.63

- Dec 2013 the company was formed with standard 100 (CR=85, ER=5,OF=10) shares valued @ £1 each
- Dec 2017 they sub-divided those to 1,000,000 shares valued @ £0.10p each
- They sold personal shares (14595+1301+2601 = 18500) to Infatrade @ £149.63 each
- Infatrade gave money, which went into their personal bank accounts
- They sold company pool shares (113651) to Indus & Erloch @ £149.63 each
- Indus & Erloch gave money which goes into the CIG bank account

It's all there in the PUBLIC filings

https://beta.companieshouse.gov.uk/company/08815227/filing-history

[Slapmeandcallmegurl]

So when personal shares are sold, generating millions, with the money "going into the CIG bank account", this is somehow taking money from them?

Ok.

[Motto]

Oh Jezus Fucking Christ, can't you even read? Personal shares are sold and that money goes into personal accounts. Public shares are sold and that money flows back into the company account.

Oh, why do even I bother?

[Slapmeandcallmegurl]

Oh Jezus Fucking Christ, can't you even read? Personal shares are sold and that money goes into personal accounts. Public shares are sold and that money flows back into the company account.

Oh, why do even I bother?

Net result though is CIG bank balance increases though right?

[Motto]

Please read your own statement and see if you can find your error. Hint: with PERSONAL shares money does not flow back into the COMPANY.

By selling public shares money does flow back into the company. But that was not your statement.

Now tell me, why do you have to sell 10% of your company's public shares for 17 million when you have raised almost 210 million dollar just by public crowdfunding/selling? When at 65 million you already had enough to finish the game even when all the funding would dry up immediatly?

[dsmart]

Net result though is CIG bank balance increases though right?

Not with the personal money. No.

[dsmart]

BREAKING NEWS

Is CIG looking to sell?

https://twitter.com/dsmart/status/1074708047874936833

[jwh1701]

BREAKING NEWS

Is CIG looking to sell?

Like watching the old soap operas, always some new twist and turns. I would be so upset if they can sell this off and walk away free with all the money siphoned off.

[Slapmeandcallmegurl]

Not with the personal money. No.

So by stating that money goes into CIG's bank account you were saying...ermmm...what exactly?

[dsmart]

So by stating that money goes into CIG's bank account you were saying...ermmm...what exactly?

I swear you're just asking to be banned now.

Personal (Chris, Erin, Ortwin) share sales go into their bank accounts.

Company (CIG) share sales go into the CIG bank account.

Which part are you struggling with?

[Slapmeandcallmegurl]

I swear you're just asking to be banned now.

Personal (Chris, Erin, Ortwin) share sales go into their bank accounts.

Company (CIG) share sales go into the CIG bank account.

Which part are you struggling with?

I'm struggling with the part where CIG getting millions of dollars for selling a small amount of equity, is a bad thing for CIG.

[Motto]

CIG needing fresh cash via shady offshore constructions is not a clear sign that the company is in final stress? After all, if you already have received 210 million dollar to build your dream, you don't need 17 million and you definitely don't walk away from your dream, now do you? When you've been giving all that money...

And if it really was good news for CIG, why haven't they announced it the minute the deal was done? Why keep it hush hush and make no mention of it yourself, even after filing the financial records?

You can't be thát stupid, you must be trolling.

Just for the record, dear Serenstupidity, please explain why a company that is financially sound with having raised 210 million dollars, would sell 10% of the public shares for 17 million to shady companies?

[dsmart]

I'm struggling with the part where CIG getting millions of dollars for selling a small amount of equity, is a bad thing for CIG.

Nice try at deflection. That's a completely different conversation that I'm no mood to engage in because I refuse to believe you're this dumb.

[N0mad]

No publisher in their right mind would want to touch the PU, it's broken and laggy, and pretty much everyone who was going to buy it has already done so by now. But SQ42 might be a different matter. It's a separate product that not all the Zealots will own. It's single player - so no having to worry about poor servers and complex multiplayer code. It can also be scaled down, so no open worlds, no clothing stores, but more focused level design instead. It would have a broader appeal than the PU. So if Chris was looking to bail, then SQ42 could be his biggest selling point. Whoever takes over the project could keep the PU servers going, they could downsize the studios and recycle all the art assets into single player levels. The elephant in the room is the Crytek case of course, so nothing could be done until that's been settled.