Over the past 10 days, Cloud Imperium Games, the developers of Star Citizen and Squadron 42, filed two documents with Companies House in the UK. The documents cover actions taken months ago, but I believe are still of interest in order to understand CIG's finances.
The first document, filed on 21 September, covers 1-3 July 2023.
The addition of 30 thousand shares doesn't seem like a big deal. After all, following the 10:1 share split back in October, 11.7 million shares were split among 8 share holders. While the nominal valuation of the shares was £36.58, we know that the cash valuation of the company in 2018 was $496 million. If the valuation holds today, these shares were worth between $1.2 million and $1.3 million. A nice little sum of money.
Given the timing of the share allocation, the shares were likely part CIG's purchase of Turbulent. Monday's filing of the confirmation statement of current shareholders provided additional evidence.
The last two shareholders on the list, Marc Beaudet and Benoit Beausejour, were the co-founders of Turbulent. A year ago, Beaudet and Beausejour both possessed 1170 shares. After the share split they were up to 11700. Spitting the newly printed shares and splitting them between the Turbulent founders gave each 26760 shares.
Now, we still don't know the details of the Turbulent sale to CIG. But we now know each of the founders received an additional $600,000 in ownership shares in CIG. We also know one additional detail. The rest of the transaction to purchase the Montreal studio involved the use of either the investment money obtained from the Calders or money from the sale of Star Citizen and Squadron 42 goods.
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