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Star Citizen loan clarification: it's an advance on their UK game dev tax rebate

Raticus79

Seek victory, not fairness
Aug 3, 2012
6,799
0
620
Calgary, Alberta, Canada

Source: https://robertsspaceindustries.com/...hread/re-uk-tax-rebate-advance-for-foundry-42

Ortwin Freyermuth is the Co-Founder, Vice-Chairman and General Counsel at Cloud Imperium Games.

For context, this is a followup for these previous threads.
http://www.neogaf.com/forum/showthread.php?t=1396794
http://www.neogaf.com/forum/showthread.php?t=1396987
 

Eolz

Member
Jun 1, 2014
10,192
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605
Looking forward to the overreacting users from the previous threads to read this :)
 

TheVoidDragon

Member
Jan 9, 2012
2,230
0
670
Turned out to be nothing significant, so much for all those claims of being indicative they were in financial trouble and it was the end of the game.
 

Primus

Member
Jan 13, 2015
1,602
1
0
Shocking turn of events here, where a reasonable business loan turns out to be...a reasonable business loan.

Looking forward to Smart's word vomit for the next several days claiming it's all lies, all cover up, all a SCAM (but I never called it a scam you can't prove it la la la la la BLOCKED)
 

Candescence

Member
Oct 3, 2013
2,901
0
0
So... Egg in the faces of the doomsayers?

Seriously, the "OMG DOOOOOOOMMMMMEEEEEEDDDD!!!!1111" talk seemed awfully overblown to me, especially when it became increasingly apparent the actual loan details weren't really anything big to begin with. It doesn't help that the whole narrative was originally being pushed by Derek Smart to begin with...
 

tuxfool

Banned
Oct 21, 2014
16,148
1
0
and another L for mr smart.

I'd say it is another L for the people that keep saying "this is it".

You'd think that constantly being wrong about whatever "it" is, would make people a bit more shy about their grand declarations.
 

atpbx

Member
Nov 22, 2013
829
9
400
It's one of the downsides of backing star citizen, you have to put up with an unbearable amount of stupid people telling you how it's a scam.
 

atpbx

Member
Nov 22, 2013
829
9
400
So... Egg in the faces of the doomsayers?

Seriously, the "OMG DOOOOOOOMMMMMEEEEEEDDDD!!!!1111" talk seemed awfully overblown to me, especially when it became increasingly apparent the actual loan details weren't really anything big to begin with. It doesn't help that the whole narrative was originally being pushed by Derek Smart to begin with...

Derek and his Goon cretins in a coordinated FuD campaign?

Like they haven't got any thing else better to do with their lives?

Well, now I've said it like that, yes that was probably what it was.
 

xealo

Member
Dec 11, 2015
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290
I'd say it is another L for the people that keep saying "this is it".

You'd think that constantly being wrong about whatever "it" is, would make people a bit more shy about their grand declarations.

It's both, really.

Mr. Smart has been going nuts over this on twitter over the last few days. In fact, he's currently claiming CIG is lying about the very statement in this threads OP.
 

OminoMichelin

Member
Feb 7, 2013
2,799
1
0
So... in before "of course they would say that!"?
I'm not even a backer, but I like to observe the development of this game from time to time. It always seemed fairly healthy to me, if a tad overambitious.
 

Dictator93

Member
Jun 29, 2011
23,811
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660
How convenient that CIG happens to have a response to these valid claims in such a quick fashion. It is almost like they were preparing a PR piece months in advance to cover their tracks. Furthermore, a quick hermeneutical reading of this text reveal so much.

Just look at some of these statements:
"Foundry 42 and its parent company Cloud Imperium Games UK Ltd. have elected to partner with Coutts, a highly regarded, very selective, and specialized UK banking institution, to obtain a regular advance against this rebate, which will allow us to avoid converting unnecessarily other currencies into GBP.

Notice the pattern?
Mr. Freymuth is obviously suffering from a form of introjection that is manifesting in his speech. Words such as "selective" + "regular" + "partner" + "avoid" all are clear evidence of a deep sexual frustration and impotence born of an accute environmental stress - namely the failing of the Star Citizen project.

This is like entry level psychology people - even an unsmart person could see such an obvious pathology.
 

TheVoidDragon

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Jan 9, 2012
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670
Who?


Anyway, I think a lot of people are still pretty concerned about this game given the length of development.

It's been said many times before but the amount of time the game has been in development so far is not uncalled for with type of game. It's been what, 4 years? MMOs typically take more than that and that's without them being one of the most ambitious games to date that aims to push the boundaries for immersion and graphics.
 

tuxfool

Banned
Oct 21, 2014
16,148
1
0
Anyway, I think a lot of people are still pretty concerned about this game given the length of development.

You mean a slightly lengthier than normal development time than average? They can have their concerns, or be disappointed by delays, but this game hasn't been in development for a unusual amount of time. It isn't even an outlier.
 

Crossing Eden

Hello, my name is Yves Guillemot, Vivendi S.A.'s Employee of the Month!
Feb 14, 2014
25,271
2
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Philadelphia
People just want the schadenfreude from the game failing. I mean, it seems like their is a minority of people that just want every game to fail but this one in particular gets a lot of flak.
It's definitely a bit strange to say the least...there's a contingent in particular hellbent on proving that crowdfunding as a concept is a scam.
 

Ganyc

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Aug 5, 2016
257
0
0
It's been said many times before but the amount of time the game has been in development so far is not uncalled for with type of game. It's been what, 4 years? MMOs typically take more than that and that's without them being one of the most ambitious games to date that aims to push the boundaries for immersion and graphics.

and don't forget that they had to fund a few studios especially for this game.


They have enough time, even if they need a few more years
 

Nzyme32

Member
May 23, 2013
18,286
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Good job to the usual folk. Another entertaining day of arm chair financial advice / gaming advice / platform warring.

Score 1 for attaching ego to products / platforms!
 

Crossing Eden

Hello, my name is Yves Guillemot, Vivendi S.A.'s Employee of the Month!
Feb 14, 2014
25,271
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Wow, you mean Dr. Derek Smart was wrong about something?
Seriously the dude's been harassing this project for years how anyone would agree with anything he has to say especially on legal matters is beyond me.
 

oldergamer

Member
Aug 20, 2004
3,791
3,620
1,605
Derek smar~ Don't mention his name fools. that's the key to unleashing that evil from its prison of non-relevance!

Oh-no I fear im too late! May glob help us... Save yourself now and flee this thread as the smartpocolypse is upon us! Run I say run...
 

akira28

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Aug 31, 2010
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Seriously the dude's been harassing this project for years how anyone would agree with anything he has to say especially on legal matters is beyond me.

I love Battlecruiser as much as the next 90s era Computer Simmer, but really anything with a Derek Smart disclaimer I tend to ignore unless I'm bored and need some entertainment.
 

jono51

Banned
Nov 12, 2011
948
68
605
www.csgolotto.com
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.
 

RK9039

Member
Aug 23, 2012
10,850
0
590
Derek smar~ Don't mention his name fools. that's the key to unleashing that evil from its prison of non-relevance!

Oh-no I fear im too late! May glob help us... Save yourself now and flee this thread as the smartpocolypse is upon us! Run I say run...

This could bring about the next apocalypse!
 

KKRT00

Member
Feb 13, 2011
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0
Warsaw - Poland
Seriously the dude's been harassing this project for years how anyone would agree with anything he has to say especially on legal matters is beyond me.

DS is not mentally healthy. Trying to understand him is waste of time.

----
Derek smar~ Don't mention his name fools. that's the key to unleashing that evil from its prison of non-relevance!

Oh-no I fear im too late! May glob help us... Save yourself now and flee this thread as the smartpocolypse is upon us! Run I say run...
You are right, but he spawned once in a thread, but was banned of course :)
 

Machina

Banned
Jun 11, 2015
6,609
5
0
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.

Would you wager your GAF account on it? No point bookmarking your post if there aren't any stakes involved
 

OminoMichelin

Member
Feb 7, 2013
2,799
1
0
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.

I legitimately cannot tell if this post is sarcastic or not.
Help.
 

kadotsu

Banned
Dec 5, 2008
8,580
1
0
Germany
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

[...]

I think that is because no one cares enough to go over the books. This project might be everything you accuse it of but this doesn't seem to be the smoking gun.
 

Menome

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Feb 18, 2014
8,253
1
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33
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Would you wager your GAF account on it? No point bookmarking your post if there aren't any stakes involved

I say he needs to print off the post and literally eat his own words if Star Citizen comes out and is just a long-term-development game like most sensible people are expecting.
 
Mar 6, 2015
53
0
250
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.

is this...real life?
 

MUnited83

For you.
Dec 14, 2013
26,816
1
570
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.
I honestly can't tell if this post is for real or not.
 

Krisprolls

Banned
May 20, 2010
2,477
3,003
1,000
Paris, France
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

Why would CIG even be entitled to a UK government rebate? They are American. Hell, even if they were that rebate may never even appear as it gets axed to cover the brexit bill. And they think they can just take it as a given and walk off with the money a year before payday?

I mean who are CIG really? They come from nowhere, suddenly amass $100m of "crowdfundng" to make a game and 6 years after nothing. Who wants to bet $80m+ of that is fake 1's and 0's whilst the other $20m is real money from poor suckers who fell into the ponzi sheme.

We're going to wake up to bernie madoff 2.0 sometime in the next few years and his name will be whoever the hell really controls CIG. bookmark this post.

You're right but don't waste your time here. The cultists are in full force, Chris Roberts is their guru, some people invested hundreds of dollars in this scam so don't expect they'll listen to you.

Just come back to laugh at them when this ponzi finally implodes, which should happen soon (probably before 2018) with less and less people buying virtual ships and cash burning fast.

So they mortgaged their company for a tax rebate ? It doesn't make sense at all but hey, if the guru said so it must be true. After all, he never lied. Wait... That's what he did from day one.
 

GHG

Member
Nov 9, 2006
25,112
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1,845
Why are there so many people that seem to want this game to fail and never see the light of day?

I don't get it.
 

jediyoshi

Member
Oct 10, 2009
30,021
7
895
This "game" is a giant fucking ponzi scheme.

You never hear about these "clever accounting tricks" during the course of other big games like Uncharted, Gran Tourismo, FIFA, etc, do you?

I can't tell whether you're aware that those aren't crowd funding projects or not.
 

tuxfool

Banned
Oct 21, 2014
16,148
1
0