Thread by @dsmart

Back on 12/7/17 the Star Citizen brain trust over in the UK, sub-divided shares for both F42-UK & CIG-UK. Basically, they converted 100 shares @ £1 per share, to 1,000,000 shares @ £0.0001 per share 1/..

F42-UK filing:

beta.companieshouse.gov.uk/company/087038…

CIG-UK filing:

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

2/..

There are many reasons for doing this, all of them amounting to two things

1) somebody wants to cash out and take money from the company

2) they want to sell shares of the companies

3/..

Other option, though unlikely, given the company structures & debt load, and which makes no sense, would be that they are looking to offer shares to employees as part of a retention type incentive.

Neither company has tangible assets & have debt load. So that's not it.

4/..

As we have no insight to the US companies, though similar filings would be public via the States they are incorporated in, we have to assume that they are probably planning on doing the same here in the US. So far, no such filings have surfaced.

5/..

On a more hilarious note, given that we have whales with investments over $50K in the project, it would be amazing if they start offering shares to whales who are looking to cash out via a refund.

Or funnier still, if they start selling shares of the companies to whales.

6/..

The patently dumb whales who keep giving them money, are dumb enough to accept WORTHLESS shares of a company with NO product, and with its assets + IP tied up as collateral to a bank (Coutts)

7/..

Shares in a company run by a group of the most shady people this side of a Ponzi scheme, and which is facing a lawsuit that is GUARANTEED to either sink them if they don't settle, or which would severely impact their cash flow if they did settle or go to trial, and pay up

8/..

Accordingly, they also changed the date of their accounts reporting from 12/31/17 to 06/30/17.

So they now have to file these accounts by 03/31/18.

Unlike US, those being public allows people to determine the financial state of those companies sooner, rather than later

9/..

This means that while we would have seen next account filings by 09/30/18, this change means we won't see them until around 03/31/19.

That's how long we now have to wait to see things like the amount of the Coutts loan from this past Summer, if they paid it etc

10/..

unroll dm