These guys are completely nuts.
In the first two minutes, you uttered a stream of inaccuracies.
Dan Offner who is now a director of CIG (UK) and on the board of CIG (US), is babysitting the $46M o.b.o of the billionaire investor, Calder. Offner didn't invest in CIG, and he isn't a billionaire.
Did you even read the official statement from Chris? It's pretty clear.
https://cloudimperiumgames.com/blog/letter-from-the-chairman/investment-newsThe money came from the Calders, not Offner. And some of it came from another group (nothing to do with Offner), Infatrade.
Then @ 4:42 you claim that you're going to see how the $46M is going to be used. No, you're not. You're only going by what Chris, who has spent the past 6+ years lying about, literally everything, says (that it's for marketing). Yes, because it makes perfect sense to sell 10% of your company which comes with a high profile babysitter, for "marketing" of a product that's 18+ months away; even as your own financial brochures show that you have consistently burned through more money than you're raising and barely had $14M left end of 2017. Give me a break. This is precisely the sort of bs that made Chris get away with all this for so long whereby 6 yrs and $212M later, he hasn't delivered a SINGLE completed game.
Aside from the fact that their own financial brochures show that, contrary to statements & promises made, they were spending MILLIONS of backer money on marketing. But yeah, it makes perfect sense to go out and get extra money for more marketing. Chris gets away with this crap because he knows his audience. They're the same people who agreed to a ToS which stripped them of all benefits, and made it so that he never has to deliver a game - of any kind. And they agreed to it - willingly.
Also, as any investor will tell you, a valuation isn't worth the paper it's printed on if the company fails to perform. It's why a lot of Silicon Valley companies which were said to be the next unicorn, flamed out. See what happened to Theranos, the largest of those which literally collapsed overnight. CIG is burning through a lot of money. The assets of the company could quite possibly be worth $1M if everything collapses tomorrow. But the fact is that the investors know these risks, and so they take steps (in their share purchase agreements - which aren't public) to somehow protect their investments. So a $460M valuation is patently meaningless. See this article for an explanation of how that works.
https://goo.gl/aEZjvTWhat's hilarious is that most backers didn't even blink that Chris didn't mention anything about Star Citizen - the game that backers and whales poured so much money into. He focused on SQ42 because he is well aware that most of those who would be remotely interested in SQ42, already own it. And so the next push is to get it done so that he has something else to sell to new gamers as new revenue source because clearly (and this is a fact) Star Citizen isn't providing sufficient funding. And if the recent space combat games are anything to go by, we already know that it's not going to make the numbers that will keep the company afloat in the long term. And now after hearing that a console version is back on the menu, it's just more evidence that Chris makes promises for lip service - and nothing else.
I mean, SQ42 was coming since 2014, then 2016. Just this past Oct CitizenCon he claimed that it was almost ready, that OCS was the final major hurdle etc. Then the roadmap shows up in Dec - and the game is 18+ months away. So back in 2016, it was a full FOUR years away - and they knew this, but kept lying about it anyway.
I know that backers who are so invested that they just attack us and other reasonable minded people, won't be able to be objective - even in the face of irrefutable evidence. I mean, after getting $211M in free money, without a word to backers, he went out and raised $46M over SEVEN months ago. And just like the LumberYard engine switch which they were apparently working through the whole of 2016, he never said a word about it, until the news broke publicly. As I wrote in my latest article, this investment search has been going on since 2017 (I wrote about it in Sept 2017, and tweeted about it in May 2018) - and Chris never said a word about it. In fact, aside from the fact that I broke the news 4 days before CIG said anything, my guess is that he wouldn't have said a word if it weren't for the fact that half of the money went into CIG UK which requires it to be made public. It's why we still don't know who the other investors (e.g. Bootcha exited in 2016) in the US are, because it's a private company.
All of you have FAILED to hold Chris accountable for anything. This is why there are those who, rather than rejoicing in a game that's making progress to release, they're celebrating fund-raising as a measure of success. And now, their own financial brochures (which they can't fudge as that would be fraud), even without a balance sheet or cash basis, shows that the amount of money raised is MEANINGLESS; and is precisely why investors can put a lot of money into a venture and still never save a dead or dying venture.
Most of us who were the original 2012 backers, wanted the project to succeed. But that dream, for the most part, is long dead. And the worst is yet to come.
