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Op Ed

Smart Speak -- Star Citizen - Final Countdown.
"The fact that they are taking out secured loans, means that backer funding is insufficient to continue operations. So that means they now rely on that same backer funding to not only fund operations, but to also pay these debts. So how are they going to do that in the long term, now that they are saddled with debt, for a project that was said to be fully funded.

So instead of being accountable to a publisher, or to backers who funded them, they are now accountable to investors and bankers. And these banks now own ALL of the CIG/RSI assets, of which the Star Citizen IP is the primary and most valuable – if they ever complete (they won’t) the project.

And worse, according to p16 Section 24, the bank now basically owns both Star Citizen and Squadron 42, and gives CIG/RSI permission to continue to develop and sell the games. This is revoked if CIG/RSI goes 60 days without paying their loan.

They’re screwed. It really is that simple. As are backers who forked out over $150 million, only to see CIG run out of money, then turn around and take out loans against the projects. So if CIG defaults (or decides to walk away), the bank owns everything; while not carrying the $150+ million liability that CIG owes to backers who funded (pre-paid the project).

This is like Freelancer all over again. Microsoft bought Digital Anvil. Chris failed. Microsoft kicked him out and took over the project."

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35. Re: Op Ed Jun 25, 2017, 21:03 grudgebearer
 
I'd be interested in how the bank valued the Squadron 42 IP as collateral. How did they separate it from the Star Citizen framework and give it an accurate valuation, without at least having the art concepts and underlying engine for both games tied into what RSI is considering the Squadron 42 IP?  
Avatar 17580
 
Violence, naked force, has settled more issues in history than any other factor, and the contrary opinion is wishfull thinking at its worst. Breeds that forget this basic truth have always paid for it with their lives and freedoms.
-Robert Heinlein
Previous Post Next Post Reply Quote Edit Delete Report
 
    Date Subject Author
  1. Jun 25, 11:33 Re: Op Ed CJ_Parker
  2. Jun 25, 11:35  No subject Mashiki Amiketo
  3. Jun 25, 11:43   Re: Op Ed NKD
  6. Jun 25, 11:56    Re: Op Ed eRe4s3r
  12. Jun 25, 12:40     Re: Op Ed NKD
  15. Jun 25, 12:47      Re: Op Ed RedEye9
  16. Jun 25, 12:53       Re: Op Ed Fion
  18. Jun 25, 13:13        No subject Mashiki Amiketo
  19. Jun 25, 14:17         Re: Op Ed Overon
  37. Jun 25, 21:48         Re: Op Ed Cutter
  50. Jun 26, 05:52          No subject Mashiki Amiketo
  30. Jun 25, 19:24        Re: Op Ed Kajetan
  4. Jun 25, 11:48   Re: Op Ed RedEye9
  9. Jun 25, 12:28    Re: Op Ed Quboid
  5. Jun 25, 11:53   Re: Op Ed sir
  7. Jun 25, 12:13 Re: Op Ed Ozmodan
  13. Jun 25, 12:46  Re: Op Ed NetHead
  8. Jun 25, 12:16 Re: Op Ed Agent-Zero
  10. Jun 25, 12:30  Re: Op Ed MoreLuckThanSkill
  49. Jun 26, 05:20   Re: Op Ed VaranDragon
  59. Jun 26, 13:31    Re: Op Ed jdreyer
  61. Jun 26, 15:53     Re: Op Ed RedEye9
  23. Jun 25, 16:32  Re: Op Ed LittleMe
  24. Jun 25, 16:59   Re: Op Ed NKD
  25. Jun 25, 17:06    Re: Op Ed RedEye9
  27. Jun 25, 17:21    Re: Op Ed Mr. Tact
  33. Jun 25, 20:19    Re: Op Ed Choobeastia
  34. Jun 25, 20:49     Re: Op Ed Asmodai
  42. Jun 25, 23:41   removed Agent-Zero
  11. Jun 25, 12:34 Re: Op Ed Ranger55
  20. Jun 25, 15:22  Re: Op Ed Flatline
  22. Jun 25, 16:25   Re: Op Ed jdreyer
  41. Jun 25, 22:44    Re: Op Ed Flatline
  26. Jun 25, 17:15  Re: Op Ed Mr. Tact
  28. Jun 25, 18:49   Re: Op Ed SlimRam
  31. Jun 25, 19:34    Re: Op Ed Drayth
  43. Jun 25, 23:55  Re: Op Ed warmbluelasers
  14. Jun 25, 12:47 Re: Op Ed Comet
  32. Jun 25, 19:38  Re: Op Ed Squirmer
  17. Jun 25, 13:12 Re: Op Ed Cutter
  21. Jun 25, 16:24 Re: Op Ed 007Bistromath
  29. Jun 25, 19:21 No subject Parallax Abstraction
>> 35. Jun 25, 21:03 Re: Op Ed grudgebearer
  36. Jun 25, 21:23  Re: Op Ed CJ_Parker
  38. Jun 25, 21:54 Re: Op Ed egg_mcmuffin
  39. Jun 25, 22:00  Re: Op Ed Burrito of Peace
  44. Jun 26, 00:03   Re: Op Ed Slashman
  52. Jun 26, 08:23    Re: Op Ed Burrito of Peace
  60. Jun 26, 14:17     Re: Op Ed jdreyer
  48. Jun 26, 03:10   Re: Op Ed jdreyer
  40. Jun 25, 22:39 Re: Op Ed egg_mcmuffin
  45. Jun 26, 00:07 Re: Op Ed El Pit
  46. Jun 26, 00:15  Re: Op Ed NicklePop
  47. Jun 26, 02:47   Re: Op Ed Kosumo
  51. Jun 26, 06:00 Re: Op Ed Bopper
  53. Jun 26, 08:45 removed Agent-Zero
  54. Jun 26, 11:47  Re: Op Ed Zanthar
  55. Jun 26, 11:56   Re: Op Ed Luke
  56. Jun 26, 11:57  Re: Op Ed Luke
  57. Jun 26, 12:35   removed Agent-Zero
  58. Jun 26, 12:50   Re: Op Ed Zanthar


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