The 2019 financials are up for all UK companies
https://find-and-update.company-information.service.gov.uk/company/08815227/filing-historyhttps://find-and-update.company-information.service.gov.uk/company/08882924/filing-historyhttps://find-and-update.company-information.service.gov.uk/company/08703814/filing-historyhttps://find-and-update.company-information.service.gov.uk/company/10934694/filing-historyOn p3 of the Cloud Imperium UK filing, it shows they paid for a perpetual license from Crytek, solidifying what we said about the lawsuit settlement.
22 Financial commitments, guarantees and contingent liabilities
Coutts & Co. holds a charge over all the company’s rights, title and interest in and to the Video Game in relation ot the outstanding loan facility. That part is strange, seeing as they paid Coutts back in 2018 according to their previous filings.
Shockingly, the UK group has over €4M+ in debt on their books. p36
Synopsis from the resident Goon accountant :
The Coutts loan (£1.54m) was repaid in 2018 when they got the Calders first load of cash but if no one gets the charge removed the auditors have to report it as still existing. Think of it more like an overdraft facility that has a zero balance, Coutts charge still exists in case they use it again. Last year’s accounts:
The UK group spent £826,657 in cash to acquire the 25% of Turbulent, which I think was already calculated from the share values. The two French sounding guys got 1170 shares each, 2340@£173.567 = £406,146. So the two Turbulent guys may have received ~£400k “worth” of shares in the USA group of companies too.
There is a line in the accounts that says Turbulent accounts are publicly available if someone wants to find those.
Confirmation on the average employee numbers for the year, outside USA.
2019 - 391 employees - £17,623,737 - Average salary = £45,073
2018 - 338 employees - £14,722,463 - Average salary = £43,557
There is a note that says the company has not received the funds for 10,375 of the 1,171,580 shares. Just amusing.
Not much to say, the group got more money, they found ways to spend all the extra money they received. Same old story.
The UK group acquired 25% of Turbulent for £829,961. The UK group received funds of £406,146 from the two Canadian guys (MARC BEAUDET & BENOIT BEAUSEJOUR). On reflection, it's likely the US group owns another 25% of Turbulent and they possibly received some shares in the US group too. So they probably ended up receiving net ~£800k total and some worthless (technically £800k worth) shares in Star Citizen companies for 50% of Turbulent in total.
They probably also got promises on business expansion and such. How much is Turbulent worth without Star Citizen? I have no idea how much work they do outside Star Citizen. Despite what the accounts say I'm not sure there really are any publicly available financial documents for Turbulent. Their version of Companies House just appears to list directors/company number/confirmation of annual returns. Maybe there is some regional registrar.
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