Since last year when I wrote an analysis of Star Citizen financial filing in the UK (it's public there), I have been saying that they were going to start issuing shares in the companies, both here in the US and in the UK.
In the past 24hrs, they have now publicly filed the actual paperwork to issue shares in the UK. They prepared these back in May.
They issued 113,861 shares valued at £0.0001 each.
If you were wondering about that number, it's because they are diluted (worthless) share amounts based on the company value.
Remember when they promised financial accountability to backers, then removed it in TOS updates? Yeah, me too.
£440k purchase of Foundry 42 Ltd from Erin Roberts and others
£1.36m IP purchase from USA company/Chris Roberts?
There is speculation about what these shares are for. If it's for backer whales, then fucking hell, that would be hilarious.
So it makes sense they would also seek to issue WORTHLESS shares in lieu of bonuses - or as signing incentives.
Going forward, two things are certain
1) they are OUT of money to finish the games
2) someone IS going to prison over this farce - mark my words.
Less than 48 hrs later, after he told them, his own sons reported him to the SEC & FBI, leading to a complete collapse and the exposure of a massive fraud.
Like the Madoff, Theranos, Enron and similar enterprises which ALL had the outside appearances of legit businesses, they are about to be COMPLETELY EXPOSED.
Key members of that Gizmondo scam are also involved in Star Citizen.
What they’re doing is trying to implement as many of the promised features as possible - regardless of functionality.
If they manage to check all those boxes, they are in the clear as far as non-delivery goes.
They switched to Lumberyard (a CryEngine derivative) in 2016 - without saying anything.
Until I made it public.
Then I wrote a blog about it.
That internal version went BEYOND 2021 - and included existing promises.
Sources are telling me that dev on that game has completely STALLED in EVERY aspect.
We already know it's NOT coming out in 2018 either.
Take for example the mining feature...
The Orion mining ship platform was sold back in 2015 - as a JPEG.
And to sell it, they unveiled a mining design doc with so much bs in it, that I was astonished at the time.
Bear in mind, the game engine simply could NOT support ANY of this. And still doesn't.
There was no mining mechanic to support it.
And as expected, it's bug ridden.
And it's 100% legal.
Star Citizen Chris Roberts BAFTA LA Presentation - Jan 2015
This one was good. He wanted $14M for the over scoped game.
I liked the part where he claims he could make the game for 1/3rd of what it would cost a publisher.
It's now 3yrs + $150M later.
In 2015 I never once thought they would raise the $150M I had estimated, nor that they would exceed that amount and NOT deliver ANY game.
Prospector mining ship, in game since 3.0 (Dec '17)
Vulture salvage ship is a JPEG
You can't mine in 3.2 without a Prospector - which is not on sale atm
BUT if you buy a Vulture, you get a Prospector as a loaner.
I shit you not. It's all true.