This doesn't look good?

Brenics

Looks like they may owe more than they have?

https://beta.companieshouse.gov.uk/company/08703814/filing-history

1 down how many to go?

Brenics

DirtyDozen said:

So you have made it your hobby to troll this game every chance you get?  Maybe you should go play SWTOR instead?  Seriously, I think you have a problem here.

Wait you mean this isn't post worthy?

cerulean2012

DirtyDozen said:

Brenics said:

DirtyDozen said:

So you have made it your hobby to troll this game every chance you get?  Maybe you should go play SWTOR instead?  Seriously, I think you have a problem here.

Wait you mean this isn't post worthy?

I can just read briefly into your post history and it's pretty clear to me that you relish anything negative about this game you can find.  I believe you are on the lookout for it.  So maybe it's newsworthy, but try to focus on your personal problem you have, mmmkay?

Regardless of if he likes to post negative things about the game, this is still worthy of people to know.

Daikuru

This Derek dude is Derek Smart?

Jaiml

Waste of time to post... but I'll post to save Bunny Rabbit some time!

Amount owed is not the same as the amount due at this moment in time.  My company owes more than it has in cash on hand.  I have long term capital loans that will be paid back over years.  As long as I keep making the payments all my creditors are happy.  Same thing with my house.  I owe more than I have in cash and more than I have in equity.  That is why I have it on a 30 year loan.

You are doing a cash flow analysis using a balance sheet.

Or as other have said it already, trolling....  nothing to see here...

Xeno.phon

Looks to me like it is set up as a diff company than RSI, if so that means that income is coming in from RSI, not from game sales. Meaning that any financial info gotten about the companies "earnings" or "Profits" is purely absurd.

They have no income but from transfers from RSI for their work. I really dont see how in any reality someone can think that viewing a subsidiary comp setup to do work for a single title financial reports can indicate a damn thing.

Seriously kids, stay in school.

blutigfaust

Sounds like he was successful then, got the haters and fanbois all worked up   lol

Hrimnir

blutigfaust said:

Sounds like he was successful then, got the haters and fanbois all worked up   lol

All you have to do to do that is sneeze in the general direction of Star Citizen.

Athisar

Hrimnir said:

blutigfaust said:

Sounds like he was successful then, got the haters and fanbois all worked up   lol

All you have to do to do that is sneeze in the general direction of Star Citizen.

Scientology membership numbers have dramatically fallen since Star Citizen appeared. Coincidence or not?

Brenics

LOL too bad you can't check my posts from years ago with AC2. I came down hard on them for not fixing major bugs and issues that hurt the game. I always been like that, if a game I would love to support has so many issues and bugs I will try and get the devs to open their eyes and fix their mistakes. 

But with this game the problem is there is no game and it sure looks like all they do is go for more and more cash with no idea where the money is actually going. They should at least the very least have an alpha for you guys to test. I agree a good 5 maybe even 6 years to complete the game but at this time in it's life there should be some playable alpha. 

So with one of their companies failing and hurting for money yeah I think it is very important news. Wonder how long before the others finally release the financials. More so when ship sales aren't moving like they were.

Realizer

Brenics said:

LOL too bad you can't check my posts from years ago with AC2. I came down hard on them for not fixing major bugs and issues that hurt the game. I always been like that, if a game I would love to support has so many issues and bugs I will try and get the devs to open their eyes and fix their mistakes. 

But with this game the problem is there is no game and it sure looks like all they do is go for more and more cash with no idea where the money is actually going. They should at least the very least have an alpha for you guys to test. I agree a good 5 maybe even 6 years to complete the game but at this time in it's life there should be some playable alpha. 

So with one of their companies failing and hurting for money yeah I think it is very important news. Wonder how long before the others finally release the financials. More so when ship sales aren't moving like they were.

I'm curious to know what you think you posted with this link. Do you even know what it means, or how the information is relevant? Do you understand that foundry 42 is considered it's own game studio with it's own taxes to handle? That's what this document is showing you.

Erillion

Realizer said:

I'm curious to know what you think you posted with this link. Do you even know what it means, or how the information is relevant? Do you understand that foundry 42 is considered it's own game studio with it's own taxes to handle? That's what this document is showing you.

He just cut and pasted from The Smarty's twitter feed ..... its todays message from The Chosen One.


Have fun

Brenics

Amazing how news is now trolling. You guys are funny. Let's wait till next company involved with SC hits. 

Realizer

Erillion said:

Realizer said:

I'm curious to know what you think you posted with this link. Do you even know what it means, or how the information is relevant? Do you understand that foundry 42 is considered it's own game studio with it's own taxes to handle? That's what this document is showing you.

He just cut and pasted from The Smarty's twitter feed ..... its todays message from The Chosen One.


Have fun

 Oh yep, I see that now. Looks like even his followers thought it was a dumb post, the comment thread gave me a laugh.

DXSins

Funny how people think this game is ever going to have money troubles... even if the crowdfunding funds do dry up, im sure a lot of publishers and investors have been making them offers to try and get in on it.

Recently it took Shenmue 3 only 2mil to to raise and show interest for Sony to back the development... this game has raised 90mil... you can bet those greedy big publishers and investors want a piece of this.

gervaise1

Looks like the OP doesn't know how to read a financial report:
Money due to the company : just over £1M; cash just under £650k;
bills falling due in the next 12 months just under £1.2M
net current assets: just uner £500K; total net assets just over £850k.


Try it yourself. Work out what you plan to spend in the next 12 months: trips to the cinema, coffee, electricity bills - whatever. Then compare to how much you have in the bank/your wallet/purse. Do you have a "this doesn't look good answer"?

Pretty common if you do. However factor in what you expect to "get" over the next 12 months: spending money from parents; wages; benefits - whatever. Hopefully you now have a positive number - if not you need to cut back.

goboygo

Brenics said:

Amazing how news is now trolling. You guys are funny. Let's wait till next company involved with SC hits. 

Its trolling because the headers and contents of your posts are always implying something negative, so your post is not news, news is the facts without passing judgment even in question so  its..... yes trolling.  And only posting negative news, targeting one subject is a form of sensationalism.  You can do whatever you want with your time but you should at least understand the definitions of your actions.

Erillion

gervaise1 said:

Looks like the OP doesn't know how to read a financial report:

Go easy on him ;-)

He is still struggling with the math in his mind. :-D


Have fun

Brenics

ROFL, oh I understand it perfectly!

Charlie.Cheswick

*tussles the OP's hair* 

You'll get'em next time, Sport.

Xeno.phon

Brenics said:

Amazing how news is now trolling. You guys are funny. Let's wait till next company involved with SC hits. 

Its not news, its proof you have no concept of how companies operate, that is all.

Brenics

Charlie.Cheswick said:

*tussles the OP's hair* 

You'll get'em next time, Sport.

LOL thanks, people like you are who keep bring me back to MMORPG!

Vada_G

I'm lost, what exactly does Brenics think this shows?

I see approx 650K cash, 360K in physical assets, 1M in recievables (most likely from CIG as I don't think they've sold anything else to anyone), and roughly 1.2M owed (most likely a 1M bank charge and 200K in various vendor charges). 

It shows me that someone can't read a balance sheet.

I mean, yeah, I think CIG has some issues with SC's development (mostly on the project management, expectations side of things) but this isn't one of them.

jesteralways

MrSyn said:

Funny how people think this game is ever going to have money troubles... even if the crowdfunding funds do dry up, im sure a lot of publishers and investors have been making them offers to try and get in on it.

Recently it took Shenmue 3 only 2mil to to raise and show interest for Sony to back the development... this game has raised 90mil... you can bet those greedy big publishers and investors want a piece of this.

Both roberts brothers implied it multiple times in ama and press interview that they have acquired multiple investors for SC. Recently in an interview with polygon erin said something along the while "while demonstrating squadron 42 to one of our investors..", long before that on multiple occasions chris roberts said something along the same line "i had to travel to attend investors meeting". These people just want this game to fail because they are jealous, they write up their crap in kickstarter but people don't blindly donate their money to these losers but when chris roberts ask 20 million people donate 90 million, it is eating these losers from inside, thus continuous doom and gloom trolling.

GeezerGamer

Not for nothing.....
But OP....
When I read the following title:

"This doesn't look good?"

The statement actually reads as though you are making an argument opposite of what you are trying to say. You posted it as a question.....As if someone else said "It didn't look good" and you are questioning that statement.

Vada_G

I hope people stop funding this game and it has to go to actual outside investment. If it gets investment, that will be a beacon of hope as I know when I or my company make investments, we demand financials (much more than a simple balance sheet).

Also, having outside investors will also hold CR's feet to the fire so to speak. I think with adequate management oversight, SC could be great. Don't expect the wunderbar product everyone is dreaming of to be the initial release though, because investors coming on would definately push this game to release early.