Star Citizen Citizenship

[Slapmeandcallmegurl]

You're not one of those so called "Whales" are you? You haven't spent a ludicrous amount of money on ships and JPEGs yeah? You don't sound like one.

Well sort of. I've spent a moderately ludicrous amount of money but, it was money given to me by other citizens.

I made the Anna voiceattack profile and they demanded I let them give me money for it.

https://robertsspaceindustries.com/comm-link/citizens/14239-Fan-Spotlight-Voice-Attack-Profiles

https://forums.robertsspaceindustries.com/discussion/153203/updated-voiceattack-profile-anna-fully-state-aware-control-everything-with-your-voice

[wiser3754]

Well sort of. I've spent a moderately ludicrous amount of money but, it was money given to me by other citizens.

Now I see why you're not concerned about the finances of CIG. You don't have alot of skin in the game. If I had more than 10k invested and saw those financial brochures I'd be sweating bullets and probably trying to sell some asset on the grey market.

[Slapmeandcallmegurl]

I don't see why. They may have lost money the last few years but they had a decent chunk in reserve, plus the 48 million investment. I really think finances are the least of their worries. Surely a company that raises 220+ million dollars in pre sales can get more investment if required.

Spending that amount on a videogame though... bit weird when it's not even close to finished. Ahh well, qué sera sera, each to their own.

I found it very interesting how Derek changed tack so efficiently when the news of investment filtered down. He used to bleat on about how nobody would invest in SC, not ever, not at all, but changed to moaning about 'dark money' and whatever other FUD he could spin out of it when it happened. So funny how those goalposts got uprooted and shifted.

[dsmart]

I don't get why I'd be concerned about a video game being developed but it looks to me like they got a lot of money early, blew up the scope, spent what they had as they earned loads and loads more. It doesn't appear like funding is slowing down in any of significant way and they've been in the black from day one. Even if they ran out of money, they've proved they can get investment, loans or more sales cash. Wanna buy an Idris?

Literally nothing to be concerned about for me. Just enjoying the ride.

You're not even funny anymore. 

[dsmart]

I don't see why. They may have lost money the last few years but they had a decent chunk in reserve, plus the 48 million investment.

Jesus H. Christ on crutches. Really?

http://www.dereksmart.com/forum/index.php?topic=135.msg11434#msg11434

"I'm not into game development, but i'm into business analytics and financial controlling. By the end of 2017, Cloud Imperium had about 14 million to pay their bills. Around 48 million per year have to be paid, some costs can be reduced immediately, other (f.e. employees) are more long term and you have to invest, to get rid of employees. For example if you force to quit a several amount of employees in a defined timeframe, you have to have a social plan for them in some countries, especially those located in the european union.

If you put this against the message, that they don't need more funds to complete the game (as said by Jesus himself), you see a complete lack of financial overview. Even if the game would be released right now, there would be a massive problem with financials anyway.

So what about the 46 million investment figure? Well if you take the release of 3.0, the 14 million in cash at the end of 2017, and the investment of 46 millions, you have to explain why exactly 46 million, why not 20 or 100 millions? Especially when you look at marketing of 7 millions in 2017, which is business critical because it's the only source to generating revenue. Is it really nessesary to have 46 millions again, to support the only working thing in this company, the marketing?

Well at this moment, you have to look at the investment itself. 46 millions for 10% percent of the company (not the product 42 or SC, the company itself). So the company must have a value of around 460 million in total. In a non-public company (not traded at stock market), the value is calculated roughly with the profit over 10 years, including future profits. Therefore they planning again with around 50 million profit, witch would be possible because the development costs and other stuff should drop if the product is finalized, and the software as a service would pay out.

But i would calculate it the other way around. Chris has a "just another year" mentality, so therefore he goes for the cheapest cash infusion possible. So 14 millions in 2017, 46 millions at the end of 2018 leads to the following calculation:

14 millions at 2017 => around 0 at the end of 2018 => incoming of backers dropped by 1.2 million per month in 2018.
46 millions at 2018 => around 0 at the end of 2020 => incoming of backers dropped by 2 millions per month in 2019/2020 (estimated). There should be the release of 42.

Somehow this is "last straw" behavior. If it pays out, the investor has a lot of revenue, of not 46 millions are peanuts. But the official statement, the 42 millions are going to marketing is simply wrong. This is almost two times the marketing cost summed up till 2012 (around 26 millions). For an already working and rolling marketing machine!

My prediction: If 42 is not released in 2020 with a super-duper release (i mean finacially), cloud imperium will close down at Q3/Q4 2020, going down as the biggest dumpster fire in crowd funding of all times.?"

I really think finances are the least of their worries.

You mean aside from the part where they quietly went out and raised $46M in dark money (which came with a board seat babysitter) off-shore; then didn't say anything about it for 7 months?

I found it very interesting how Derek changed tack so efficiently when the news of investment filtered down. He used to bleat on about how nobody would invest in SC, not ever, not at all, but changed to moaning about 'dark money' and whatever other FUD he could spin out of it when it happened. So funny how those goalposts got uprooted and shifted.

Changed tack?

I wrote a whole blog which outlined irrefutable evidence that I was right about their financial state this whole time.

And after they released their financial brochure, it was the last of three things that I asked them for back in 2015; and which concluded all the things I have been writing about. I guess you guys are surprised that it turned out precisely as I said it would, and then I no longer had anything interesting to write about. I mean, I even issued a public statement about it. I guess you missed it.

https://twitter.com/dsmart/status/1100194558133059585

"Just so I don't have to keep responding to this in emails and DMs, this is my official comment on why I don't write about Star Citizen as I used to do. The project is dead. All that's left is apathy. Backers had ample warning this would happen - exactly as I had laid it out."

http://www.dereksmart.com/forum/index.php?topic=135.msg11766#msg11766

"The whole Star Citizen fiasco has ended with a thud. For my part, once they released the financials (item 3/3 which I asked them for back in 2015), I figured that my work was done. All I'm waiting for now is the end game so that I can finish my fucking book."

So what exactly am I supposed to be writing about now then?

[Slapmeandcallmegurl]

You're not even funny anymore. 

Let's see.

Income for 2012: 7.262 million
Expenditure for 2012: 1.145 million
Money in the bank at the start of 2013: 6.117 million

So at then end of year one they were over 6 million in the black.

This end of year position increased for another 2 years, then decreased for 3 years leaving 14.228 million dollars in the bank at the end of 2017.

In the black from day one until the end of 2017. Fact.



The only thing funny about it is your inability to accept being wrong.

[dsmart]

Let's see.

OK, I'm convinced that your trolling has gone from bad to worse to ridiculous. You see, this is why they released a brochure instead of a standard audited financial statement (like the rest of the world, and even their UK subsidiaries do) because they have idiots for backers.

[Slapmeandcallmegurl]

Yeah, because a company that makes millions of dollars profit, by having an income that far exceeds it's expenditure for its first three years, is definitely in the red...of course. I see it now. How could I have been so silly?

[dsmart]

Yeah, because a company that makes millions of dollars profit, by having an income that far exceeds it's expenditure for its first three years, is definitely in the red...of course. I see it now. How could I have been so silly?

Profit!?!? 

[Slapmeandcallmegurl]

What else should we call the income left over after all expenses have been subtracted?

[Motto]

Oh, just stop feeding the troll. Either he's just fucking about, or he really is that fucking dumb. Either way, don't waste another bit on him. Just wait untill the end of CIG. 2 weeks. 90 days tops. Maybe a bit longer. That's the thing with E.L.E.'s

[dsmart]

Oh, just stop feeding the troll. Either he's just fucking about, or he really is that fucking dumb. Either way, don't waste another bit on him. Just wait untill the end of CIG. 2 weeks. 90 days tops. Maybe a bit longer. That's the thing with E.L.E.'s

[Slapmeandcallmegurl]

What else should we call the income left over after all expenses have been subtracted?

So no answer to this very simple question then?

Lol indeed.

[wiser3754]

So no answer to this very simple question then?

Lol indeed.

You know, this bickering between you and Derek ain't getting the project finished quicker nor is it going to accelerate CIG's decline.

[Slapmeandcallmegurl]

You know, this bickering between you and Derek ain't getting the project finished quicker nor is it going to accelerate CIG's decline.

Keeps us both entertained though😁