Cloud Imperium Games Use Assets to Secure Loan

According to a filing with Companies House made on the 15th of June this year Cloud Imperium Games, the developers of crowd funding mega success Star Citizen have had to take out a loan with bank Coutts & Co.

The filing states that a floating charge has been registered by the company and that it is secured by the assets of the company, in layman speak, this can be taken to mean that Star Citizen is now owned by the bank, and not the company until the company pays off the loan. Much as Ford did in 2008 when liquidity got a little sticky and they needed a hand dealing with some short term issues.

The game hasn't really made many waves in recent months, and according to the funding charts on their website although they have raised $152,862,940 US in funding since the campaign started in September 2012  and in November of 2016 raised over 7 million in that one month alone, they have suffered a large drop off in donations in the past 6 months with the past 3 months each bringing in less than half that.

Now this most recent event does not mean that all is not well for RSI and CIG, or that the backers have lost the lot as the company is still pootling along quite nicely pumping out those ships for people to buy. It does however intimate that something is less that optimal in the finances of the company that had less than half a million pounds in net assets at the end of 2015.

Hopefully, this is all no more than bump in the road and all shall be smooth sailing for Christopher Roberts and co once more.