CIoud Imperium Late Again Submitting Its Accounts To UK Companies House

What is going on at Cloud Imperium Games? Specifically, at Cloud Imperium UK LTD. On 7 January the company filed paperwork indicating Dr. Martin Franz, Cloud Imperium's General Consul, was no longer acting as the company's corporate secretary. Then on Friday, 10 January, I noticed UK Companies House had tagged Cloud Imperium UK LTD as not having submitted its financial accounts for 2023.

As seen at 1400 UTC on 13 Jan 2025

To review recent history the 2023 accounts are the third consecutive set of accounts to be turned in late to UK Companies house. The 2021 accounts were stamped as arriving on 3 January 2023, the first workday of the year. I didn't say anything at the time because Cloud Imperium UK could have submitted the paperwork on time and the government just didn't process the accounts in a timely manner.

The 2022 accounts, on the other hand, caused some concern. I first reported on the late filing in January 2024 with the idea that the late appointment of Dr. Franz in December 2023 might have delayed the filing. Turns out the filing, delayed until 3 March, was probably delayed due to discrepancies found by Cloud Imperium's new auditing firm. One of the discrepancies is a contingent liability Cloud Imperium did not have the funds to cover. And, given the company's known financial performance in 2024, presumably still doesn't.

Which is why the resignation of Dr. Franz last week raised red flags. Sure, Cloud Imperium losing its general consul at this time with all the other senior people leaving would cause some concerns. But the corporate secretary walking away with the filing of all the accounts currently two weeks late? I wonder if Dr. Franz didn't want to go through whatever happened with the 2022 accounts.

One other condition is different now than back in 2024. CIG published its 2022 financials on 2 January 2024. Sure, the paperwork was late to the government, but the company was still open about its finances, right? But this year, I highly doubt the company will publish a 2023 financial report until the auditors from PwC (assuming CIG uses the same firm from last year) finish their review. But the company will probably publish its 2023 financials before submitting the accounts to Companies House. So the quicker we see the financial information on the CIG corporate website, the better the situation probably is.

Look, I get it. Cloud Imperium Games is special. Through the end of 2024, the company had brought in over a confirmed $931 million through its founding in April 2012 when outside investments are included. The gameplay itself will revolutionize the industry. Chris Roberts is a genius. But CIG still needs to file their financial paperwork on time.