Cloud Imperium Issues Official Statement about Rumored Financial Issues

Megalith

Megalith

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Rumors about Star Citizen’s financials sprouted during the weekend after a NeoGAF member posted filings from the UK Companies House offering new insight on Cloud Imperium’s activity. The implication was that the company applied for a significant loan and offered up everything they had in the process: the Star Citizen IP, all assets, all code, and distribution rights. CI has clarified that this was just a “regular advance” for tax credit rebate purposes - but not everyone seems to be convinced.

In other words, Cloud Imperium will take a loan to obtain money from a UK tax rebate for game companies early. Cloud Imperium will take the loan money now and when the tax rebate comes in, it will go to the bank. The catch here is that Cloud Imperium will pay in GBP. As such, and given the fact that its collections are mostly in USD and EUR, if GBP drops below current currency levels, Cloud Imperium will pay less. And to be honest, that’s a really smart business move.
 
They should have just had a stopping place and focused on the game as it was from that point. It looks amazing and would be a shame if it disappeared due to carelessness.
 
wl14RDy.jpg


it's coming!
 
hmmm, from reading it appears to be an actual good business move. they are banking on the british pound falling compared to other currencies, which all things considering is kinda obvious.
 
katanaD said:
hmmm, from reading it appears to be an actual good business move. they are banking on the british pound falling compared to other currencies, which all things considering is kinda obvious.
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There is no such thing as obvious when it comes to betting on the forex. If it was obvious everyone would make the same bet and it .. wouldn't work.

This is good for Star Citizen!
 
You know what, I am glad they are delaying 3.0 and massively scaling it back. That just means they care about quality. When it does eventually come out It will be worth the house I mortgaged.
 
Pringle said:
Uhhhh scaling back? This entire "Project" has been one massive feature creep.
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Oh, I was unclear. The game is going to be bigger and more amazing than ever. I am just talking about the 3.0 release they promised soon. The good stuff has been pushed until later. Which really is probably for the best. You have to make sure things are perfect. If I am really honest with myself I think I would be fine with this game not coming out until the mid 2030's. I will be a lot closer to retirement then and will have the time to really commit to playing it in the way I envision.
 
They must have insider information about the £ dropping in value even more, may well do as Brexit progresses :(:(
 
I actually believe their explanation.... as Roberts has always been a scammer. Its not like scamming tax codes is much different. He learned this little trick from his time producing WAY over budget movies for Euro trash investors. The movie industry pulls this little tax stunt all the time... its how they turn profits on movies that "fail" at the box office. You drag production out long enough and shoot in a few countries to pull this scam in 2-3 tax seasons and your golden.

I'm sure if anyone ever went through Roberts books you would find all sorts of little budget tricks like this one... that aren't at all illegal, just great ways to make a ton of money on "failing" business projects. He is using the tricks he learned from the slimy movie people he was associated with... they taught him how to make money while loosing it.
 
DF-1 said:
someone should make a new image that ones very old (mass effect and call of duty been released for months)
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You could make a new image every 6 months as CIG will always manage to miss even your most pessimistic roadmaps. This is already an updated version of the image, the previous one still projected Sq42 to release before ME:A
 
Layoffs will start soon. Of course "they were planned once we reached this stage of development".
 
I don't understand the netrage, to be honest. If you backed it, and you think it'll be a flop, get a refund or sell your pledge to someone else. If you didn't back it, why do you care? It's not your money.
 
ROFL... All the Haterade drinkers really crack me up. Let's see who is gonna be right, may be a while, but I'm patient. Sorry but if peeps believe in this project, let them believe. Why such anger against something you really don't understand, want to understand or care about... Oh ya, that's right, it's one of those bad traits you humans still possess. You will get over it in a few hundred more years if you survive and don't kill yourselves.
 
Pringle said:
The same reason people look at roadkill when they're driving?
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Sure, you might look at it, but do you really care? Clearly not as much as either the "Chris Roberts is the second coming!" group, or the "Chris Roberts is Satan's henchman!" group. I'm more of a ... middle area guy.
 
LightsOut41 said:
Because they have continuously lied to, deceived, and manipulated their backers. That's why.
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Are you a backer? Sound a bit angry, you do and I am curious why you would even give a $h!7 about "their backers". If you have no horse in the race than just armchair away. We will be entertained either way. :)
 
It's fun watching the biggest slow motion train wreck in pc gaming history. Even funner watching people throwing gobs of money at pictures of ships LOL. It will provide at least a couple more years of entertainment and delays. Don't care if I have no skin in the game, gonna post and enjoy it anyway.
 
BlackManx said:
Are you a backer? Sound a bit angry, you do and I am curious why you would even give a $h!7 about "their backers". If you have no horse in the race than just armchair away. We will be entertained either way. :)
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I don't have to have lost money to bernie madoff to say I hope he spends the rest of his life in prison.

Roberts is a scammer he always has been. You don't have to buy snake oil to call a SO salesman out.

What is the worst bit of the entire situation is Roberts is going to make it harder for larger scale legit crowd funding game projects. Not that I'm a a huge fan of the larger scale ones anyway... if your game idea is that great get investors. If you can't get investors their is likely very good reason. Roberts claimed to have lots of investors that just needed to see a crowd funding start to jump in.... be interested to know where they all went. lol
 
Eh, I pledged for a cheapie ship back near the beginning. I've probably gotten as much entertainment from the forums as I'd have gotten from a $45 game, so I've broken even without anything ever shipping.
 
BlackManx said:
ROFL... All the Haterade drinkers really crack me up. Let's see who is gonna be right, may be a while, but I'm patient. Sorry but if peeps believe in this project, let them believe. Why such anger against something you really don't understand, want to understand or care about... Oh ya, that's right, it's one of those bad traits you humans still possess. You will get over it in a few hundred more years if you survive and don't kill yourselves.
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I understand that software development that has a beginning, a muddle and no end. And the results are never good.
 
MavericK said:
Ironic, as the real "triggered" seem to be the folks who start foaming at the mouth at the slightest mention of Star Citizen, when they have nothing invested in the first place.
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True. I don't care one way of the other it's just that when something takes this long that never seems to set definitive goals and dates, it just goes on and on and anyone that's been in IT long enough have seen this and it just doesn't end well.
 
heatlesssun said:
True. I don't care one way of the other it's just that when something takes this long that never seems to set definitive goals and dates, it just goes on and on and anyone that's been in IT long enough have seen this and it just doesn't end well.
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Ah, but the kickstarter did set goals and dates, they have completely ignored pretty much every one of them though.
 
FearTheCow said:
Ah, but the kickstarter did set goals and dates, they have completely ignored pretty much every one of them though.
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Which is exactly the point. Maybe SC will be the greatest but the development process is complete crap.
 
You make it sound like Chris Roberts committed some heinous crime against you or society in the past. The way I see it, and I could be wrong, is that he made one of the most successful space games in history back in the 80s and 90s, some other decent games and some failures along the way. How is that any different from any other single name game creator in the short history of computer games? BTW, how many single name game creators can you even list? Not too many, huh. I say give the man a chance, nobody is being held by gunpoint to "donate" and quite honestly, you have to agree, that many of the recent games from the likes of EA, Activision, Ubisoft, Sony, Micro$oft (the list goes on), absolutely suck - not all of them but oh so many. Do you not see a trend of smaller/indy game devs attempting to innovate new ideas far away from and in the shadows of these peddlers of mediocrity? Sadly most of them will cave in to the mighty dollar and or actually need outside money from larger entities to progress. I for one am tired of the Walmart game pub model and see some of these new projects as a breath of fresh air in a stagnating industry (PC) which is now on the rise, again. I actually appreciate someone pushing the envelope of what our definition of a great gaming experience is not to mention expand the bounds of fidelity and features. But to hold something against one of these up-and-comers (or reborn) who actually found success in crowdfunding to the tune of 153 million dollars makes me wonder about the motives about some of the most vocal voices against these types of projects. You hear the squeaky wheel the loudest and I personally believe no crowdfunding project would be so far along if the majority of the peeps that donated were against the direction it was going in. No? I say leave the innovation to those bat-crazy dudes that want to put their balls on the crushing block. I hate the cliche "disruptive" but I do admire the ambition of anyone that sticks their middle finger up at tradition and make their own path, to make something better for all. Hopefully, one day, we will be able to thank some of these peeps for what they brought to the table or not... at least they tried. May not be as noble as curing cancer, but at least for me, enjoyable entertainment is what keeps me sane.
 
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heatlesssun said:
True. I don't care one way of the other it's just that when something takes this long that never seems to set definitive goals and dates, it just goes on and on and anyone that's been in IT long enough have seen this and it just doesn't end well.
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A fair criticism. We'll see what happens...I think what they have already playable is very promising, but the question is, will they ever finish it?
 
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