Star Citizen: Share & Share Alike
Bringing you only the sexiest fiduciary newsflashes!
Seems there was some intriguing share action back in May. The main beats are:
So probably just an injection of investor cash, with some top personnel shifting a slice of cash into their own hands. Not hugely unusual. (Although having tax havens involved always raises at least one eyebrow right ). Kinda goes against the public claims of crowd-funded independence too though. Enough there that seems worth keeping an eye on anyway...
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Bringing Some Order:
There's also some trickles of juice being squeezed out of the court case. The judge is on the verge of kicking out the whole 'must exclusively use Cryengine' part of the claim, which is a major pillar. She's given Crytek another go at improving their argument or laying on more evidence.
The funny bit is that the Patreon lawyers that the Reddit Citizens favour misread it as all the claims being wiped out and prematurely claimed 'case closed'. They're now posting videos rolling back on this, but Reddit at least thinks the gavel has banged for the last time
(They crazy. This whole ball of distended limbs is liable to roll for years... )
Bringing you only the sexiest fiduciary newsflashes!
Seems there was some intriguing share action back in May. The main beats are:
- CIG UK LTD issued some new shares, sold them off primarily to a Caymans-based company for approx £17mil, leaving those guys with a 10% overall share.
- Chris, his brother, and beloved in-house lawyer Ortwin, all sold off some of their personal shares for around £2.7mil combined
So probably just an injection of investor cash, with some top personnel shifting a slice of cash into their own hands. Not hugely unusual. (Although having tax havens involved always raises at least one eyebrow right ). Kinda goes against the public claims of crowd-funded independence too though. Enough there that seems worth keeping an eye on anyway...
WARNING: "BONUS RABBIT HOLE" spoilers below
The company that bought the personal shares is a bit of mystery. Infratrade Group Corporation don't seem to exist anywhere. There is an Infatrade GC though in the British Virgin Islands, who have lent money to film companies in the past (see 14 Aug 2006). And more importantly, were a 'gap finance provider' for Chris's own Lucky Number Slevin, produced by his Ascendant Pictures outfit. So there's possibly some kind of past relationship there. Or the internet detectives have just gone all Kevin Bacon on this
WARNING: "INEVITABLE DOOM SCENARIO" spoilers below
There's a fun little theory here, from some Citizens-turning-cynical, that sees doom between the lines. Essentially:
- The Coutts loan was due in June 2018 (With loads of IP & assets on the line if it wasn't paid).
- If they couldn't pay it back other bank loans weren't an option as they're already capitalised.
- The private share sale in May could have paid off the loan, and seen them through to the traditional payday of CitCon at the end of the year.
---
Bringing Some Order:
There's also some trickles of juice being squeezed out of the court case. The judge is on the verge of kicking out the whole 'must exclusively use Cryengine' part of the claim, which is a major pillar. She's given Crytek another go at improving their argument or laying on more evidence.
The funny bit is that the Patreon lawyers that the Reddit Citizens favour misread it as all the claims being wiped out and prematurely claimed 'case closed'. They're now posting videos rolling back on this, but Reddit at least thinks the gavel has banged for the last time
(They crazy. This whole ball of distended limbs is liable to roll for years... )
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Virtual Reality chatter on a movie site? Got endless amounts of it here. Reviews over here
Virtual Reality chatter on a movie site? Got endless amounts of it here. Reviews over here
Last edited by Golgot; 12-16-18 at 07:25 PM.