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64,044 Views • Mar 27, 2024 • Click to toggle off description
#starcitizen #spacegames #bestgame
0:00 Intro
2:04 Background
2:42 Financial Documents
4:45 A Time Limit?
9:08 What it Means for Squadron 42 and Star Citizen
Source Document: find-and-update.company-information.service.gov.uk…
CIG Investor Page: cloudimperiumgames.com/blog/corporate/cloud-imperi…
Guard Frequency Podcast: guardfrequency.com/
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Views : 64,044
Genre: Gaming
Date of upload: Mar 27, 2024 ^^
Rating : 4.9 (87/3,389 LTDR)
RYD date created : 2024-05-06T09:56:45.382383Z
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YouTube Comments - 606 Comments
Top Comments of this video!! :3
This just in: Early investors, during a recent board meeting, emphasized their development concerns by silently standing atop their office chairs.
228 |
Either way, let us hope SQ42 is a big success, as that means bigger and better things for CIG's future.
286 |
S42 needs to be a GOTY type game when it releases. I don't think CIG can even afford to drop the ball on this game. I believe that Star Citizen could be the game to end all games for me.
321 |
Extremely standard stuff. Also CIG having a bit of a hurry up is no bad thing - I love the vision, but I do want to be alive still to enjoy it!
103 |
This again proofs that we are not "backers", we are customers. We don't have access to the same information of this "open development" game as those investors. "Crowd Funding" is just pre-ordering. They are allowed to tell is release dates in 2014,2015,2016, and so on, but it does not matter if we keep buying new ships and keep accepting new version of the ToS. We are likely getting nothing back if this continues.
Calling anything after 11,5 years "break-neck-speed" just sounds like a joke. A lot of backers that expected at that time of 2012 a mostly usual 3-5 year release cycle (like many, not all, AAA-titles of that time) died or will die until a real 1.0 release. More than the usual number of people who pass away in a pre-order period. Even I nearly died at the end of 2022 (and still have permanent damage).
14 |
As someone that has over $1,000 pledged in the game, it's crazy how I no longer care about Star Citizen and if it ever comes out. I think I just got to the point that I didn't think it'd ever come out so I made peace with the loss of money and just moved on. If it ever comes out, I'll probably play it but I lost my fire for it when I originally got the game to play with my son when he was 12. He's now 24, moved out and now lives in another state with his job and will likely not have the time to play it with me. I wonder how many others have similar stories or even crazier ones?
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CANT call it a 1.0 without the FIVE MAJOR KICKSTARTER GOALS
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"Features are going to have to wait until after that 1.0 release"
If things that are planned for the full game are put on hold until the game is complete, then the game is not complete.
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Remember when the stretch goals promised us we'd have 100 distinct star systems on the 1.0 launch? I do.
17 |
I'm expecting an announcement for a date to reveal the announcement to be honest.
133 |
Zero fear for CIG. If you asked me a few years ago I might have given a different answer but the level of content being worked on since CIG announced the majority of the Devs moving back over to SC has been very encouraging.
54 |
Dude if there is one game you could say having a deadline for is good it is Star Citizen. They have been making this ever increasing Beta of a game for years. It's nuts. They should have been polishing Squadron 42 years ago.
3 |
Thanks for the video Morph o7
Between this, the massive expansion in employees, the expansion and new offices in Manchester, Frankfurt, and Austin, and the cost of Star Citizen, there's a lot riding on the success of Squadron 42.
But they seem to be feeling good about it. We will see, exciting times for Star Citizen fans.
The one thing I do wonder about is the Squadron 42 beta dates given or 2020. If they planned this out from 2018, those dates look even worse.
84 |
Looking at CIGs response to the qualified opinion it doesn't look like there's any specific performance criteria in place (such as product launches, certain sales targets etc.) - it appears lilely to be just a put option. This gives to private parties the right to sell back their shares to CIG for around 41m GBP - this means there's likely an inherent (and not explicit) performance obligation for CIG to ensure their 1.8 million shares are worth at least that value in 2025.
I don't think that takes away from the key message that this acts as an effective deadline for CIG to launch SQ42 etc., but technically CIG could also satisfy the valuation by generating income/value in other ways (eg. More ship sales, licensing star engine etc.).
CIG would also likely satisfy those shareholders just by generating continual profit from ship sales, and paying at least 2.5m GBP in annual dividends to them (where this gets hairy is the 'class' of shareholder they'd be considered; if they hold the same class as CR and family it means the profit would need to be at least ~20m per year to support this).
Outside of that, CIG keeping the investors abreast of future plans could be enough - even if the value isn't there from a quantitative perspective, CIG would likely share enough information with the shareholders to reassure them the future value is there (more qualitative perspective on things).
Caveats: I've relied heavily on the 6% pa return to support these numbers and disregarded that 3 year average profit stipulation, assuming it's not material (ie. Small in comparison to the rest of the factors).
13 |
The fact that CiG reports a profit of 8.4 million is not necessarily indicative of a healthy financial structure. It is important to take a closer look at where this profit comes from. Upon closer examination, it becomes clear that the majority of the profit is derived from tax claims, subsidized by the state due to CiG’s activity as a game developer in the UK. It should be noted that this is probably only an estimate.
4 |
its pretty interesting that the investors can pull out in 2025-2028 but i also think they will stay in the project as the growing "hype" towards future updates could be a longer lasting thing far past those years
62 |
It's important to remember that there were two rounds of investment, in 2018 and 2020, giving the investors a 15% stake in the company at a total investment of $63 million, which CIG has retained for paying for the costs of marketing and platform distribution so those costs would not take away from the development budget. But because of the growth of revenues the company has been able to continue to grow without touching those funds, in fact adding to them over the years. But if the investors chose to withdraw their investment based on the agreement the payout of those shares would be significantly larger than the initial $63 million. It's also important to note that the reason for the UK audit is that CIG gets not insubstantial tax breaks from the UK for operating and expanding there, hence why the UK government audits them because of their substantial tax credits.
3 |
Can't wait for the video "Star Citizen and Squadron 42 Deadlines 2026/2027"
8 |
Historically Chris has always needed a sword of Damocles in order to get a project out. As you say "art" is never done, and Chris is a hell of a tinkerer, just trying this and that and the next thing, seemingly forgetting that he also needs to release something :) So... I think this is a good thing, it keeps him focussed.
32 |
@Morphologis
1 month ago
Minor correction, the document doesn't explicitly point to royalties. This is just a possibility within the full unreleased agreement. I mis-remembered this during my conversation with Tony, which he kindly pointed out to me a moment ago. Sorry for the mistake!
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