Star Citizen Breaking News

[N0mad]

The monthly burn rate at CIG has been estimated at $3 - 4 million. If CIG are still paying their staff then they presumably have enough money to satisfy this claim. They might not be able to pay their staff afterwards though.

[dsmart]

The monthly burn rate at CIG has been estimated at $3 - 4 million. If CIG are still paying their staff then they presumably have enough money to satisfy this claim. They might not be able to pay their staff afterwards though.

Are you suggesting that the claim is in the region of $3-4M? I am a little confused; could you clarify what you mean?

[the_wolfmann]

I'd put my wager on the claim to land between the $30-40M range. Basically a year's worth of funding.

If the companies are insolvent doesn't it fall on the owners to pay up? They have unjustly enriched themselves anyway. It'll be the ultimate justice to leave them on the streets (if not in jail).

And LOL if Chris really expected CryTek to go under so that his problem would go away.

[N0mad]

I was just suggesting that CIG must have some money left in the kitty if they want to continue paying their staff for the foreseeable future, especially since their main funding drives are at the end of the year. Still, all just speculation.

Derek, when is this new breaking news of yours being released?

[Kyrt]

The monthly burn rate at CIG has been estimated at $3 - 4 million. If CIG are still paying their staff then they presumably have enough money to satisfy this claim. They might not be able to pay their staff afterwards though.

I don't know if I'd put it that high.

The $13.5k per man month is still only a rough rule of thumb....and one that presumes the company is paying its bills. If they stiffed CryTek who knows who else is waiting.

[DemonInvestor]

Where do you people get the 13.5k per person estimate from?

My personal guess for the seeked compensation would be more based upon a percentage of the sales, than what they got from Amazon for their engine. Which sounds about right, as i don't think the licensing fees are that high for a normale license, when compared towards a percentage of that 170m, or even the 150m or so they'd reached when they switched engines.
In the end it's still just speculating without any idea what their contract really said.

[Spunky Munkee]

Who knows, Perhaps they know of some chink in the corporate armor that Roberts and company hide behind. If there is some commingling of funds perhaps. Maybe Roberts home is owned by CIG, Boats, cars, all written off as corporate entertainment expenses, you never know. There are assets... supposedly, the Mocap studio, physical assets, computers loaded with licenced software, Furniture and fixtures, perhaps there were retirement funds set up for key personnel, We don't know if they own the real estate CIG uses or if it's a rental. I am sure that they have a plan and have done some investigations into the matter.

[Aya Reiko]

There is one thing bugging me ever since this lawsuit started. I'm assuming that they did some research at Skadden. It should be pretty obvious that there is no money left at CIG, at least not much. Even if Chris and his merry gang did skim off, will there be enough to satisfy both CryTek and Skadden? I'm guessing there won't be since the largest part of the money most likely actually has been spent on staff etc. How come Skadden still took on the job?

That's why the discovery phase is going to be so much FUN!  :allears:

Considering this firm got a judgment against FB to the tune of half a billion over OR, I'm leaning more towards a judgment of at least $75 million against CIG ifwhen CryTek wins.  Though anything over $30-$40 million (if even that) would probably finish off CIG for good anyway.

[Kyrt]

Where do you people get the 13.5k per person estimate from?

It's an industry wide rule of thumb for guessetimating the total budget of a project.

If you have a staff of x and think a project will take y months to deliver, then the total budget you should allocate will be about $13.5k per man month. That accounts for pay and benefits....rent...power...licenses...equipment...and so on. So x * y * $13.5k would be the total budget.

Actual costs may be higher or lower but it is seen as a useful rule of thumb.

My personal guess for the seeked compensation would be more based upon a percentage of the sales, than what they got from Amazon for their engine. Which sounds about right, as i don't think the licensing fees are that high for a normale license, when compared towards a percentage of that 170m, or even the 150m or so they'd reached when they switched engines.
In the end it's still just speculating without any idea what their contract really said.

A lot will depend on the GLA but I think it more likely CryTek want a settlement...one that gives them cash and protects their IP.

However...it must also be remembered that CIG used exCryTek developers to modify CryEngine into a "new" engine they named Star Engine and refused to share those changes with CryTek.  Amazon paid $70 million for that privilege.

CryTek probably isn't going to be looking for that amount.

But they will want a payment and they will want their IP protected.

Best outcome for CIG would be for them to hand over the optimizations for CryEngine they promised to provide, to give CryTek a payment that reflects list revenue AND punitive damages  and that CryTek gives them time to switch over their entire system to LumberYard...maybe 3-6 months.

Well...unless CIG has some document freeing them from the GLA

[StanTheMan]

There is one thing bugging me ever since this lawsuit started. I'm assuming that they did some research at Skadden. It should be pretty obvious that there is no money left at CIG, at least not much. Even if Chris and his merry gang did skim off, will there be enough to satisfy both CryTek and Skadden? I'm guessing there won't be since the largest part of the money most likely actually has been spent on staff etc. How come Skadden still took on the job?

Sure but we don't need to worry about that. 

Could be lots of things but most likely the $.

Crytek is a going concern, CIG is a going concern.

[Flashwit]

And yeah honestly, it doesn't need to be some big settlement to finish them off. I'm sure they're paying their bills with money from at most a couple months back. Even 10 million would probably have them failing payroll and/or rent.

[dsmart]

RSI have made some curious moves in the UK. I just had a 10 part thread on it.

[JustComments]

Hey guys, New comer here... also a backer for 'that game'. 

Just figured I'd join and see what's up, because that new version 3.0 of 'that game' doesn't even run on my PC. So if you're in the same boat, join the party here:

https://www.thepetitionsite.com/368/897/467/demand-cloud-imperium-games-to-release-their-financial-information/
I want to know what the hell they're doing with my money. Don't you?

[Motto]

Just sit back, relax and watch it all fall apart. Won't take long now. Two weeks.

[Kyrt]

Hey guys, New comer here... also a backer for 'that game'. 

Just figured I'd join and see what's up, because that new version 3.0 of 'that game' doesn't even run on my PC. So if you're in the same boat, join the party here:

https://www.thepetitionsite.com/368/897/467/demand-cloud-imperium-games-to-release-their-financial-information/
I want to know what the hell they're doing with my money. Don't you?

I know what they're doing with your money

They're spending it.

Game development is...can be...very expensive

If you are concerned that they are squandering your money, that they are wasting your money....well, they are.

They have space doors to pay for...the debacle over third parties and communication issues would have cost millions...I believe Chris Roberts did get his (IIRC) $3 million to license Star Citizen to CIG (if I understand the reports correctly) so at least that money was well spent. And of course, there are the upcoming lawyers fees....

So - the answer - IMO anyway - is that the money is being squandered and misspent. I just can't be sure how much.

Or are you worried about if they have any money left? Well...the UK based F42 looks to have posts CIG about $70 million over three years. Double that to account for the other three offices, and add in a bit extra to account for the previous three years. They've got between (less than) $0 and $40 million in reserve depending on the estimates.

Seriously - really - I don't think CIG have any interest in releasing their financial information. Or at least, any more than they have to. And I don't believe they'll pay attention to any petition or poll.

If you are concerned about finances, the only thing I can really suggest is that you ask for a refund on the grounds that they haven't provided the product you paid for. That might work.