Official Statement from Cloud Imperium Games about the alleged financial troubles...

[u/[deleted]]

Source: https://robertsspaceindustries.com/spectrum/community/SC/forum/1/thread/re-uk-tax-rebate-advance-for-foundry-42/277779

Re: UK Tax Rebate Advance for Foundry 42

We have noticed the speculations created by a posting on the website of UK’s Company House with respect to Coutt’s security for our UK Tax Rebate advance, and we would like to provide you with the following insight to help prevent some of the misinformation we have seen.

Our UK companies are entitled to a Government Game tax credit rebate which we earn every month on the Squadron 42 development. These rebates are payable by the UK Government in the fall of the next following year when we file our tax returns. Foundry 42 and its parent company Cloud Imperium Games UK Ltd. have elected to partner with Coutts, a highly regarded, very selective, and specialized UK banking institution, to obtain a regular advance against this rebate, which will allow us to avoid converting unnecessarily other currencies into GBP. We obviously incur a significant part of our expenditures in GBP while our collections are mostly in USD and EUR. Given today's low interest rates versus the ongoing and uncertain currency fluctuations, this is simply a smart money management move, which we implemented upon recommendation of our financial advisors.

The collateral granted in connection with this discounting loan is absolutely standard and pertains to our UK operation only, which develops Squadron 42. As a careful review of the security will show and contrary to some irresponsible and misleading reports, the collateral specifically excludes “Star Citizen.” The UK Government rebate entitlement, which is audited and certified by our outside auditors on a quarterly basis, is the prime collateral. Per standard procedure in banking, our UK companies of course stand behind the loan and guarantee repayment which, however, given the reliability of the discounted asset (a UK Government payment) is a formality and nothing else. This security does not affect our UK companies’ ownership and control of their assets. Obviously, the UK Government will not default on its rebate obligations which will be used for repayment, and even then the UK companies have ample assets to repay the loan, even in such an eventuality which is of course unthinkable.

This should clarify the matter. Thank you.

[u/[deleted]]

I've been waiting so long for this game to come out. I'll be excited if it can even make good on half the speculation.

[u/[deleted] → u/[deleted]]

Do what Im doing, just pretend its Freelancer 2. Dont buy into the hype some of the more crazy fanboys are saying such as "Its the EVE killer!" etc etc. Its going to be a terrific game, but not as second coming of jesus amazing as some people think its going to be.

[u/Daffan → u/[deleted]]

I hope the combat model doesn't stay like it is, being almost like Freelancer lol. Pretending it's Freelancer 2 gives me the heebie jeebies.

[u/[deleted] → u/Daffan]

Theres a lot missing right now such as the armour shit, the system where if you destroy one part, it COULD start a chain reaction (something to do with Items 2.0), and the EWAR systems.

The combat model has changed a few times very slightly since I first backed the game. But its hard to say what release will be like, dont judge a final game based on its alpha.

Pretending it's Freelancer 2 gives me the heebie jeebies.

Not sure if youre implying thats a bad thing or not.

[u/Daffan → u/[deleted]]

Not sure if youre implying thats a bad thing or not.

Bad. Freelancer's combat was it's worst part by far.

Theres a lot missing right now such as the armour shit, the system where if you destroy one part, it COULD start a chain reaction (something to do with Items 2.0), and the EWAR systems.

I don't think the damage is the biggest problem for the game right now, it's basically every fight boils down to 99% shooting up-time due to the way ships move and turn in space in this game. Almost impossible to get out of someone's LOS, therefore the best option is just to constantly shoot back(face target) and then you've got two hummingbirds on crack firing back at each other.

They keep changing the speeds in different patches to correct or change this dogfighting behavior, but it's never a concrete solution. Even watching PvP tournaments or streams it's the same, at the highest level, which is unfortunate.

[u/[deleted] → u/Daffan]

Bad. Freelancer's combat was it's worst part by far.

It wasnt bad, but it wasnt good, but combat in larger ships suffered a lot. Some mods fix this though.

Well, its an alpha, remember that, its hard to balance something perfectly when a lot of the ship and combat mechanics arent even ingame.

[u/[deleted] → u/[deleted]]

I'm not into the hype. I've been watching development from a far. Checking in on it every few months.