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CIG deal with Coutts & Co?

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  • MaxBaconMaxBacon Member LegendaryPosts: 7,847
    edited June 2017
    sgel said:
    The drama made them explain. You should thank the one who brought it up and the people that speculated ;)
    And the people who got misled by this high amount of fear mongering thrown around the media about this?

    Common proper journalism here, the company wasn't even reached for a clarification by the media who instantly jumped into this story.

    Ortwin slapped the journalists who did those reports for being irresponsible because if that wasn't enough they also misread the securities, that includes the UK operation instead of the reported entire CIG.
    Excession
  • BabuinixBabuinix Member EpicPosts: 4,499
    edited June 2017
    sgel said:
    MaxBacon said:
    Wow look at all this drama for nothing, doing this to benefit in taxes and currency fluctuations...

    gg
    The drama made them explain. You should thank the one who brought it up and the people that speculated ;)
    Explain something that anyone with half a brain would  already know if they weren't too busy hating everything Star Citizen lol

    Suckers!
    Excession
  • sgelsgel Member EpicPosts: 2,197
    Babuinix said:
    sgel said:
    MaxBacon said:
    Wow look at all this drama for nothing, doing this to benefit in taxes and currency fluctuations...

    gg
    The drama made them explain. You should thank the one who brought it up and the people that speculated ;)
    Explain something that anyone with half a brain would  already know if they weren't too busy hating everything Star Citizen lol

    Suckers!
    I like how you call everyone who speculated "half a brain" yet neither did you know the reason that CIG did what they did until everyone else did (because Ortwin explained it after public speculation forced him too).


    ..Cake..

  • sgelsgel Member EpicPosts: 2,197
    MaxBacon said:
    sgel said:
    The drama made them explain. You should thank the one who brought it up and the people that speculated ;)
    And the people who got misled by this high amount of fear mongering thrown around the media about this?

    Common proper journalism here, the company wasn't even reached for a clarification by the media who instantly jumped into this story.
    I didn't even read it in any media. I'm sure if someone did post about it then that helped in making Ortwin come out and explain. You should thank them too. ;)

    ..Cake..

  • BabuinixBabuinix Member EpicPosts: 4,499
    edited June 2017
    sgel said:
    Babuinix said:
    sgel said:
    MaxBacon said:
    Wow look at all this drama for nothing, doing this to benefit in taxes and currency fluctuations...

    gg
    The drama made them explain. You should thank the one who brought it up and the people that speculated ;)
    Explain something that anyone with half a brain would  already know if they weren't too busy hating everything Star Citizen lol

    Suckers!
    I like how you call everyone who speculated "half a brain" yet neither did you know the reason that CIG did what they did until everyone else did (because Ortwin explained it after public speculation forced him too).

    Babuinix said:
     It's called leveraging your wealth. 

    Coutts & Co. Is a bank for the elite. Actually not just a bank, but a wealth management bank.

    They manage the fortune of the the British Royal Family for example.

    You have to have at least £1,000,000 in tangible assets, and even then they are extremely picky about the clients they take on.

    So what this show's is that CIG is a company with solid accounting and that's why one of the oldest banks in world is whiling to give them money.

    Ofc that derek shart and the rest of it's entourage of trolls will try to spin it into something negative lol.

    Such is the life of the miserable of spirit.

    But hey at least we get some laughs from it, that's better than nothing imo.
    I guess you missed it. Honest mistake commando. 07
    Post edited by Babuinix on
    Excession
  • sgelsgel Member EpicPosts: 2,197
    That quote of yours still didn't explain why they did it though.

    Odeezee

    ..Cake..

  • MaxBaconMaxBacon Member LegendaryPosts: 7,847
    edited June 2017
    The amazing thing that completely exposed Derek Smart on his BS....

    Is that once this report came in, he made a blog talking about how bad it was, and doom, and the end. Then he came saying his "sources" reached him with updates and he said that the situation was "MUCH WORSE" than a bank owning the company. Completely missing the contract applies to their UK operation and not entire CIG, shows how the narrative was built not in his supposed sources but what was posted in neogaf (now shown wrong).

    I hear last remains of credibility... and a toilet.... --'
    GdemamiExcession
  • sgelsgel Member EpicPosts: 2,197
    Why are you still obsessed with Derek Smart?
    EVERYONE knows he exaggerates the hell out of things.
    rpmcmurphy

    ..Cake..

  • MaxBaconMaxBacon Member LegendaryPosts: 7,847
    edited June 2017
    sgel said:
    Why are you still obsessed with Derek Smart?
    EVERYONE knows he exaggerates the hell out of things.
    Yeah but he always stood behind sources to make this sort of claims.

    Today he is in damage control because he put his hands in the fire (his supposed sources) and it burnt him once the situation was clarified being completely something else.

    Then it becomes clear him saying sources confirming and saying him the situation was much worse, were not real and lied within the false assumptions and misunderstanding of the contract that was public information.

    I'm not obsessed but just call it morbid curiosity.
    gir243GdemamiExcession
  • rpmcmurphyrpmcmurphy Member EpicPosts: 3,502
    edited June 2017
    Amazing the lengths people will go to defend something that turns out to not be an issue at all.

    They clearly have no faith.

    Have fun
    Odeezee
  • sgelsgel Member EpicPosts: 2,197
    MaxBacon said:
    sgel said:
    Why are you still obsessed with Derek Smart?
    EVERYONE knows he exaggerates the hell out of things.
    Yeah but he always stood behind sources to make this sort of claims.

    Today he is in damage control because he put his hands in the fire (his supposed sources) and it burnt him once the situation was clarified being completely something else.

    Then it becomes clear him saying sources confirming and saying him the situation was much worse, were not real and lied within the false assumptions and misunderstanding of the contract.
    What are you even talking about?! He always says sources this sources that.
    He's also been wrong a million times... he doesn't care.. just continues to be obsessed.

    ..Cake..

  • BabuinixBabuinix Member EpicPosts: 4,499
    rpmcmurphy said:t
    Amazing the lengths people will go to defend something that turns out to not be an issue at all.

    They clearly have no faith.

    Have fun
    Completely lost faith whille the haters lost face.  :D
    rpmcmurphyExcession
  • sgelsgel Member EpicPosts: 2,197
    edited June 2017
    MaxBacon said:

    I'm not obsessed but just call it morbid curiosity.
    :D
    rpmcmurphyMaxBacongir243

    ..Cake..

  • rpmcmurphyrpmcmurphy Member EpicPosts: 3,502
    Babuinix said:
    rpmcmurphy said:t
    Amazing the lengths people will go to defend something that turns out to not be an issue at all.

    They clearly have no faith.

    Have fun
    Completely lost faith whille the haters lost face.  :D
    How can you lose face over speculations.

    Funny how people are so willing to trust an entertainment lawyer working for a company selling jpegs for $500 a piece.
    MaxBaconOdeezee
  • BabuinixBabuinix Member EpicPosts: 4,499
    Don't you mean 15k for a space jpeg?

    Oh let me.... Should I trust the offically acountable main source or the forum trolls? Oh even better the elderly lutanic ex-wannabe dev that writtes blogs that no one reads besides the saddest of the saddies?

    Decisions, decisions...:blush:
    OdeezeeExcession
  • HeraseHerase Member RarePosts: 993
    edited June 2017
    Babuinix said:
    rpmcmurphy said:t
    Amazing the lengths people will go to defend something that turns out to not be an issue at all.

    They clearly have no faith.

    Have fun
    Completely lost faith whille the haters lost face.  :D
    How can you lose face over speculations.

    Funny how people are so willing to trust an entertainment lawyer working for a company selling jpegs for $500 a piece.
    because most were adamant that their speculation will come up true or was true and as always with SC topics, people eventually start stating their speculation as fact. Check the twitter post earlier in the thread and journalists posting news about it without any information.

    Not trying to poke fun, but what's funny is people can't just take it on the chin that they were wrong and move on. 
    Odeezee
  • Octagon7711Octagon7711 Member LegendaryPosts: 9,004
    Amazing the lengths people will go to defend something that turns out to not be an issue at all.

    They clearly have no faith.

    Have fun
    I have to agree with this one.  I like CIG but see no reason to counter every negative post.  If it's a good company, good things will happen with or without my justifications.  A multi-million dollar company should be just fine defending itself.
    Odeezee

    "We all do the best we can based on life experience, point of view, and our ability to believe in ourselves." - Naropa      "We don't see things as they are, we see them as we are."  SR Covey

  • MaxBaconMaxBacon Member LegendaryPosts: 7,847
    I have to agree with this one.  I like CIG but see no reason to counter every negative post.  If it's a good company, good things will happen with or without my justifications.  A multi-million dollar company should be just fine defending itself.
    Today was absolutely ridiculous, especially the media reporting plain wrong information where the contract wasn't properly read. --'

    I saw people panicking all over the community like SC was over and just collapsed now owned by a bank....

    You can say what you want but what happened today was the biggest fear monger that I ever saw within SC, one moment all is fine, the other moment doomsday all is over, the other it was nothing fine again...
    GdemamiExcession
  • KefoKefo Member EpicPosts: 4,229
    MaxBacon said:
    Kefo said:
    Which then means they will be breaking a promise that funds will only go towards game dev if they are paying off loans with backer money.
    Does it even matter?

    It's trading money for money, they get 5 million from the bank to put in SC, they repay 5 million from backers to the bank.

    Either way 5 million end up put towards the game dev, that is what matters, they are getting the money up front.
    In your world interest must not exist
    Odeezee
  • KefoKefo Member EpicPosts: 4,229
    Excession said:
    It does not really matter who own's what right now.

    What really matter's is why did they need a loan in the first place? what changed?

    CR has stated many times, that they have plenty of money to make the game, they have cash reserve's, and could complete the game if funding stopped.

    The pace of development is determined by how much money they have on a month to month basis, again, according to CR.

    So why the loan?

    They cannot be doing that well financially, as the bank placed a floating charge, a fixed charge, and applied a negative pledge.

    The worst part is, if they do not repay the loan, or become insolvent, the bank would get money back, preferential creditor's would get money (that would be staff, they would get any wages owed), and unsecured creditor's get nothing.

    Unsecured creditor's are the people who have paid pledges.


    The first mistake is believing anything CR says. The easiest thing is to just assume anytime he opens his mouth to speak he's lying until proven otherwise
  • gir243gir243 Member UncommonPosts: 50
    MaxBacon said:
    I have to agree with this one.  I like CIG but see no reason to counter every negative post.  If it's a good company, good things will happen with or without my justifications.  A multi-million dollar company should be just fine defending itself.
    Today was absolutely ridiculous, especially the media reporting plain wrong information where the contract wasn't properly read. --'

    I saw people panicking all over the community like SC was over and just collapsed now owned by a bank....

    You can say what you want but what happened today was the biggest fear monger that I ever saw within SC, one moment all is fine, the other moment doomsday all is over, the other it was nothing fine again...

    Well it's a damn good thing that you are around to go set the record straight on multiple sites.  "Morbid curiosity".....lol.
    OdeezeeMaxBacon
  • BabuinixBabuinix Member EpicPosts: 4,499
    edited June 2017
    Babuinix said:
    Lol by now this is just another episode of the "90 days top" summer FUD campaign lol.

    Every summer before Gamescom and Citizencom (Star Citizen events that generate a lot of funding) we have the usual smartie trolls picking any news and exagerating them into a scandal that will take CIG into the impending doom, lol, just lol.

    But the most amusing part is that this raises awareness to Star Citizen and tends to unite the backers even more which then generates even more funding for CIG lol

    rpmcmurphyExcession
  • MaxBaconMaxBacon Member LegendaryPosts: 7,847
    gir243 said:
    Well it's a damn good thing that you are around to go set the record straight on multiple sites.  "Morbid curiosity".....lol.
    I'm am not, was mostly in the own community spectrum and reddit, where mostly people were coming wtf'ing about what was going on.But CIG was decently fast to react and provide a clarification to clear up the BS and stop further escalation.


    • Resuming this with a bit of Roleplay...

    Hello Backers and welcome to today's ATV!

    In Today's Episode, we will talk about...



    See you, a loan the Verse!

    BabuinixOdeezeeExcession
  • ArglebargleArglebargle Member EpicPosts: 3,490
    Kefo said:
    Excession said:
    It does not really matter who own's what right now.

    What really matter's is why did they need a loan in the first place? what changed?

    CR has stated many times, that they have plenty of money to make the game, they have cash reserve's, and could complete the game if funding stopped.

    The pace of development is determined by how much money they have on a month to month basis, again, according to CR.

    So why the loan?

    They cannot be doing that well financially, as the bank placed a floating charge, a fixed charge, and applied a negative pledge.

    The worst part is, if they do not repay the loan, or become insolvent, the bank would get money back, preferential creditor's would get money (that would be staff, they would get any wages owed), and unsecured creditor's get nothing.

    Unsecured creditor's are the people who have paid pledges.


    The first mistake is believing anything CR says. The easiest thing is to just assume anytime he opens his mouth to speak he's lying until proven otherwise


    Yeah.  And it might not even technically be lying:  Roberts may have convinced himself it's the truth.   I don't believe anything CIG puts out until it can be seen on the test servers or verified by a responsible third party.  And they've earned that.


     

    Odeezee

    If you are holding out for the perfect game, the only game you play will be the waiting one.

  • ArglebargleArglebargle Member EpicPosts: 3,490
    MaxBacon said:
    gir243 said:
    Well it's a damn good thing that you are around to go set the record straight on multiple sites.  "Morbid curiosity".....lol.
    I'm am not, was mostly in the own community spectrum and reddit, where mostly people were coming wtf'ing about what was going on.But CIG was decently fast to react and provide a clarification to clear up the BS and stop further escalation.


    • Resuming this with a bit of Roleplay...

    Hello Backers and welcome to today's ATV!

    In Today's Episode, we will talk about...



    See you, a loan the Verse!


    Okay, that was funny!

    If you are holding out for the perfect game, the only game you play will be the waiting one.

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