To the surprised of no one sane it turned out to be proof of nothing, and it is a wise move, while it might turn out that the £ stays like this or doesn't drop more, given that Brexit bill negotiations are still to be started, let alone freedom of movement talks which will dictate if the UK can remain in the single market or not, there is a very good chance the £ will fall further, so they are basically taking a small hit to future income (at worse, at best they will get more money) to get a certainty on how much they will receive, instead of gambling with how the market will react to the Brexit negotiations and possibly losing money in the process.
I swear I will never understand why mods let so much shit posting go in this forum when it is certain subjects, like indie games, valve, star citizen, among others, people just drop in start saying stuff that is verifiable false and crazy, and get absolutely no punishment for doing behavior that should be confined to the trash pit alternative fact reality of reddit and 4chan.
If people want to think Star Citizen is going to turn out into a big pile of old crap, that is fine, it is an opinion, I mean there is so so so much about star citizen development process that can be validly criticized, the fact they have what must be one of the most open development processes around (the irony given the claims), sure helps a lot with that.
But to claim it is a scam is just false by any sane measure that can be verified at this point in time, not to mention it is a very serious accusation, which none of these borderline troll posters seem to back up ever.
Derek Smart is a complete idiot, most of his claims about star citizen are straight up lies, https://youtu.be/IHUbzzKJXBc?t=1743 as you can see in that video (check that specific time stamp), so yeah keep using that guy, or the escapists which had sources saying things that employees verified as being false like having ID cards and the likes.
The kickstarter only started at the end of 2012, so you know yet another claim that seems to be inaccurate from you, also had no idea you did accounting for star citizen to know they have spent 150 million $, which should be said is quite the achievement, after all they only raised close to 153 million $, I guess you just proved that they do indeed not pay taxes, or even payment fees really, since that would be basically the only way they could spend 150 million with 153 million raised, those filthy scammers, tax dodging scum.
I swear I will never understand why mods let so much shit posting go in this forum when it is certain subjects, like indie games, valve, star citizen, among others, people just drop in start saying stuff that is verifiable false and crazy, and get absolutely no punishment for doing behavior that should be confined to the trash pit alternative fact reality of reddit and 4chan.
If people want to think Star Citizen is going to turn out into a big pile of old crap, that is fine, it is an opinion, I mean there is so so so much about star citizen development process that can be validly criticized, the fact they have what must be one of the most open development processes around (the irony given the claims), sure helps a lot with that.
But to claim it is a scam is just false by any sane measure that can be verified at this point in time, not to mention it is a very serious accusation, which none of these borderline troll posters seem to back up ever.
The explanation seems really fishy. For what it's worth, here's Derek Smart answer on the subject :
http://dereksmart.com/2017/06/star-citizen-final-countdown/
"This response has so many Red flags, I don't even know where to begin. So, right off the top of my head...
Look at the 2016 filing, and it is 100% clear that the tax credits aren't even going to fund 2 months of operations! I wrote an analysis of their 2016 filings which shows the tax credit amounts. Quote: ”They are now taking the tax credits awarded by the government for software companies in the region. For 2016, they took £3.3m ($4.1m) allowance, and with the £3.1m ($3.9m) taken in 2015, brings the total tax credit to £6.4m ($8.1m) thus far. Due to how this is calculated (after expenses), this tax credit adds approximately £6.4m ($8.1m) to the projects P&L calculations.”
That they took a loan against such a SMALL tax credit, should be alarming that they would even need to. If after getting $150m + investor money + loans, you also need to pledge ALL assets for a high-risk loan against a measly tax credit, that's a problem. Not to mention a tax credit that is due in just a few months when they file taxes. But they apparently need the money right now. Why is that?
If this was just about the tax credits, why then is it not the ONLY collateral (p4 Section 4.2.9) listed? If true (given their record, this is highly unlikely), obviously the bank felt it was a RISKY loan because they could fold BEFORE being eligible for the tax credit. So they secured ALL their assets.
A UK tax credit, like here in the US, is a guaranteed asset, as long as your revenue is in compliance. You can take out a loan against just the tax credit, without putting your entire company and assets on the line – just for that. In this instance, this was not the case. The loan collateral isn't just for the tax credit, but for highly valuable assets. Of course, as we've seen in the case of 38 Studios collapse, things can go sideways pretty quickly if you don't plan correctly.
Also, Ortwin is the same guy who has been involved in various venture collapses, and complete loss of investor money; mostly in Germany. I wrote about this in my Money Laundromat blog a few months ago."
Derek Smart is a complete idiot, most of his claims about star citizen are straight up lies, https://youtu.be/IHUbzzKJXBc?t=1743 as you can see in that video (check that specific time stamp), so yeah keep using that guy, or the escapists which had sources saying things that employees verified as being false like having ID cards and the likes.
Well, we're still quoting Chris Roberts after 8 years, $150 million spent and basically nothing released so I guess we can quote everybody...
The kickstarter only started at the end of 2012, so you know yet another claim that seems to be inaccurate from you, also had no idea you did accounting for star citizen to know they have spent 150 million $, which should be said is quite the achievement, after all they only raised close to 153 million $, I guess you just proved that they do indeed not pay taxes, or even payment fees really, since that would be basically the only way they could spend 150 million with 153 million raised, those filthy scammers, tax dodging scum.