Thread by @dsmart

The latest in Star Citizen news is a doozy of sorts.

First, remember back in Dec 2018 when they released their financials and which proved beyond a doubt that I was right all along about the project?

dereksmart.com/2018/12/star-c…

At that some time, we found out that, having run out of money to fund future ops, they got a $46M investment bailout from an off-shore billionaire, who then apparently installed industry vet, Dan Offner as director & board member to babysit it.

As I had written back then, having a guy like Offner on your board is kind of a big deal. He has lots of experience and knows a LOT of industry players. Not to mention knowing all the ins and outs of the biz. Basically, nothing - shady or otherwise - is going to get past him.

Though it's been known that a company that was burning through more than they were making, and which was literally insolvent, wasn't going to get $46M and sit on it for "marketing" (which was the new lie from Chris and co) when they have have a massive shortfall on their books.

As we later found out (through Forbes no less), after getting that bailout, Chris went out and bought a multi-million Dollar house - through a trust. But the money was totally for marketing though. Honest.

dereksmart.com/2019/05/star-c…

Offner had been appointed to the board on May 23rd, 2018. Of course this wasn't public knowledge until Dec 2018 when they finally filed all the paperwork in the UK (where they are public, unlike in the US).

1yr from that date, he has resigned.

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

Offner has been replaced by some guy named Marc Nitsche - also based in the Cayman Islands.

Also, Sandi Gardiner - wife of Chris Roberts is now a director of that group.

i.imgur.com/UG9y71A.png

There's not much on Marc Nitsche; except that, according to Bloomberg: he "is a lawyer, businessman, and investor. For more than ten years he has managed both hedge and private equity funds and he serves as a Director for a number of such funds."

bloomberg.com/research/stock…

As for Sandi, well, we know who she is; so there's not much to add there. Except well, maybe now she can stop lying about her age (1975 instead of 1980) on social media and IMDB page.

i.imgur.com/U3tZ17H.jpg

imdb.com/name/nm1667407…

While all details aren't yet known, as I eluded to in this tweet from earlier this month, there's a lot going on behind the scenes; and the end result is going to be the sort of hilarity that our industry is famous for. Trust me, there are lots of lols.

https://twitter.com/dsmart/status/1138964850506457088

You can read the official CIG announcement over here.

cloudimperiumgames.com/blog/latest-an…

Weird how, in that CIG announcement, there's not much fluff on Sandi. But then again, that's probably because she's already been exposed as a fraud years ago. I covered some of that in one of my 2016 blogs.

dereksmart.com/2016/08/woman-…

Finally, in case you were wondering how the development of the games were coming along - they're not. Still nothing on SQ42; and Star Citizen remains an unmitigated disaster of epic proportions. The upcoming 3.6 release was basically neutered beyond belief.

I know it's hard to ignore this train-wreck, but the fact is that we're currently in the slow death march phase now whereby everyone's waiting to see if it all ends with a bang (my bet) or a whimper.

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