Thread by @dsmart

{thread} BREAKING!! Well, the Star Citizen dark money fiasco has concluded.

In this previous thread, I laid it all out.

threadreaderapp.com/thread/1073588…

The other penny has dropped overnight.

The statement of capital which would show the value of the shares is now online.

imgur.com/p14EWe6.jpg

beta.companieshouse.gov.uk/company/088152…

Each share sold in May 2018 @ £149.63.

Chris, Erin, Ortwin sold shares to Infatrade (British Virgin Islands) and cashed out - thus taking (again) money (£2.76M) out of CIG (the parent corp in the group).

Indus & Erloch (Cayman Islands) got about 10% piece of the action in CIG @ £17M which goes into the company.

i.imgur.com/0j5LSzU.png

The final tally for this financial dealing:

imgur.com/tzhqNVh.jpg

So basically, this past Summer, Chris, his brother, and partner, cashed out by taking backer money out of the project, then sold 10% of the group at a £170M valuation.

Last Summer, they took out a Coutts loan against UK tax credits.

Considering the yearly burn rate of the F42 (UK/GER) team, the £17M isn't even 6 months of funding for F42 (UK/GER). So between May 2018 to now, it's probably been spent.

You can take a look at the online financial for yourself. It's in the first post in this thread.

I had previously reported that after Chris took backer money to build a UK studio (F42) for his brother Erin, he later turned around and sold it back, thus taking a large amount (£440k) of backer money out of the project.

pbs.twimg.com/media/Desb38qW…

dereksmart.com/forums/reply/5…

These guys are getting rich off backer money. With loans, investor money etc, and ZERO product delivered after 6 yrs.

This is the same guy who claimed that he needed crowd-funding so that he wouldn't have to get publishers or investors in the project.

Sources tell me the SAME thing has happened on the US side. But we can't get data on that because it's a private company. Everything leaks, so eventually we'll get that info. Especially with the on-going Crytek lawsuit.

With this May 2018 investment which invariably gives CIG (US/UK) a £170M valuation, it's pretty clear that, as I wrote back in July 2015, NO amount of money is going to deliver the game they pitched and promised.

Like I said, this recent revelation isn’t even a Red flag; it’s a five alarm fire that the project is in serious trouble and financial distress.

But I believe that what I'm hearing is coming next is going to completely eclipse this.

This is Chris Roberts failing. Again.

{end}

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