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Derek Smart @dsmart
, 9 tweets, 3 min read Read on Twitter
{thread} On Sept 28th, CIG filed their opposition to CryTek’s second amended complaint. I haven’t covered it because they have a hearing coming up on Oct 10th in front of the judge, and I was going to wait and cover them both in a single article.

docdroid.net/gyyGc4q/031129…
Also, as per the judge’s previous instructions, both parties got together and finally filed a Rule 26(f) discovery report/plan. Much to the chagrin of CIG of course, since they've been fighting to avoid discovery since January this year.

docdroid.net/iucXCm0/031129…
Also, as we only have insight to the project’s financials over in the UK, we have been waiting for both RSI (the parent shell company) and CIG (the UK development studio) to file their Dec 2017 financials.
Earlier this week, RSI filed their financials. At a cursory glance, it's eye-opening to say the least.

I will cover that in the same article sometime after the Oct 10th hearing.

beta.companieshouse.gov.uk/company/088829…
CIG hasn't file their financials yet, and going by the last filing, this one is sure to be a bit revealing.

beta.companieshouse.gov.uk/company/088152…
The key issue is that RSI (UK) has the sole purpose of receiving money from the US. While CIG is just another shell; with F42 (UK) being the studio that's actually working on a game. I previously covered their Dec 2017 filing back in Aug.

dereksmart.com/forums/reply/6…
They claim (the funding chart is bs) to have raised $194M to date.

Though funding has slowed down, going by current trends, and using their own data (accurate or not), they will break $200M in approx 4-6 months.

imgur.com/R5d1RrH.jpg
A reminder that going into year 8, they still haven't shipped a game - of ANY kind.

Even the much hyped 3.3 which was split into 2 parts, doesn't appear to be making progress.

They plan to release it on Oct 12th during CitizenCon.

i.imgur.com/zF4v0bA.jpg
According to testers of both versions, if they release either 3.3 or 3.3.5, it would be an even bigger mistake than the release of 3.0 last Dec. So they probably won't release 3.3 live on Oct 12, but instead move it to Dec as they did last year.

GameDev is hard

{end}
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More from @dsmart see all

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I just wrapped an interview over the latest Star Citizen funding fiasco which broke just before Christmas.

A bunch of these haven't aged well over the years.

Chris Roberts, 2013

imgur.com/uarM3JJ.jpg

gamesindustry.biz/articles/2013-…
HIlariously, instead of, you know, profiting on 1/5th of the sales, financials now show that he was burning through more money than he was making, essentially bankrupting the project. Hence a $46M investor bailout.

cloudimperiumgames.com/uploads/691565…
It was already a foregone conclusion (I totally called it back in 2015) that the funding chart was bs.

In fact, as I wrote in my latest blog, they burned through $32M MORE than the chart showed.

imgur.com/N7zrISx.jpg

dereksmart.com/2018/12/star-c…
Read 9 tweets
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The legal battle between @draginol and P&F over Star Control, took a very interesting (tip: litigating your case in public is NEVER a good idea. EVER) .

gamesindustry.biz/articles/2019-…
@draginol P&F, in what I can only attribute to a serious lapse in judgment, wrote a blog (some of it is a rather dubious take on what constitutes copyright infringement) explaining their view of what is going on. It's quite the read.

dogarandkazon.com/blog/2019/1/2/…
Naturally, Brad published his response to that blog, which at this point, you have to wonder if they are actually listening to their attorneys - at all.

forums.starcontrol.com/492870/at-long…
Read 18 tweets
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Just putting this here for posterity. That time when Chris Roberts again blatantly LIED to Dean over @GamesBeat

Except context to follow...

venturebeat.com/2018/12/20/sta…
@GamesBeat Aside from the fact where their financial "brochure" showed NO SUCH THING. No cash basis. No liabilities. No line item tangible expenses. No balance sheet. No audit claims.

imgur.com/LyeCvzD.jpg

cloudimperiumgames.com/blog/corporate…
Except that if you were "open" the US financials would have been made public, and then nobody would need to be doing back-of-the-napkin math.

Aside from the fact that the financials CLEARLY show that you're spending MORE than you're raising.

imgur.com/Sj7EM8K.jpg
Read 20 tweets

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Comment or call 09094999993 or 09053535305 to share your thoughts LIVE ON AIR!
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Are You Planning To Give Up?
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