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Fig Investment

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Mykll
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Fig Investment

Post by Mykll » Thu Sep 01, 2016 1:39 pm

Ok so we all know that the investment paperwork and all that will take time, and only when that gets approved, will people start to get charged for their investment thing. And that there were I believe 2 different types of investments, the small personal investment and the big dollar ones. Correct me if I have any of that wrong.

So my questions are what happens after the paperwork gets approved, and iDGi can start to charge people.

Will both sets of investments (small personal and big) get charged at the same time, or will the big stuff gets processed first, and then any small personal ones to follow?

What kind of heads up will we be given that we are about to get charged?
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Re: Fig Investment

Post by heels_FIGq » Tue Sep 06, 2016 2:49 pm

Hey Mykll,

It's not an automatic charge - When we're ready to collect for Consortium: The Tower we'll reach out backers and instruct them on where to go at Fig in order to complete their investment. You'll have plenty of time and advance warning to get it all sorted.

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Re: Fig Investment

Post by Mykll » Fri Sep 30, 2016 5:21 am

So I got an e-mail from Fig saying that the SEC filings have been done. Specifically...

"Fig Game Shares - PSY2 for Psychonauts 2 has just been qualified by the SEC! If you reserved an investment, we’ll be in touch next week on how to complete the purchase of your shares."

Does that mean a filing for each game will have to be done separately?

Also, here is the investment info for Make Sail:

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And here is the preview investment for Wasteland 3:

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For The Tower it wasn't quite spelled out like this, plus the minimum amount was $250, and there was no mention (that I remember) about buying units, just a minimum amount and pick your amount. So now some of our (well okay maybe only 2 people?) concerns are that will the seemingly $1,000 minimum amount be enforced for The Tower, and will Units be enforced as well? Buying Units is much different than "Minimum amount, pick your amount".
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Re: Fig Investment

Post by Mykll » Sun Apr 16, 2017 12:22 am

Any update on the Fig investment side of things? It is a little concerning seeing Wasteland 3 already open for investment, and seems to be past the initial paperwork hurdle that The Tower finds themselves in. iDGi only got Pledges of $98,788. And out of that, 100% is never received (historically with KS projects anyway, like bad credit cards, or who knows why a pledge doesn't get collected). I dunno about the cost of living up there, but that is very little money to split however many ways for 11 months since the Fig project ended. Greg and company can really use the additional funds on the investment side of things, $249,750. I would say much more than inXile needed their investment funds, and yet they were somehow able to leapfrog everyone. It concerns me a great deal that people directly tied to Fig can get their game crammed through for investment (Tim Schafer with Psychonauts 2 and Brian Fargo with Wasteland 3) and we sit here waiting for iDGi's The Tower to go through, a company, and a project, that seems to need the influx of money more. And we are sitting in the dark without being told what is going on. I don't blame Greg, I don't blame iDGi. Things seems to be real fishy over at Fig. It seems like all of those angry comments from the Kickstarter about Tim Schafer and Fig were based on something that I am only just now starting to see.
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Re: Fig Investment

Post by GreatBird » Sun Apr 16, 2017 1:54 pm

The short answer, Mykll, is have no fear - Fig has our backs. They've been supporting us with their own funds due to the extreme reservation collecting delays, so from our point of view everything is on track as originally planned.

It has indeed been a long road to opening the unaccredited investment for The Tower and the reason has something to do with the overall amount of money we reserved for investment, compared to the multi-million dollar campaigns. I'm no lawyer but there is an army of lawyers and S.E.C. officials behind this whole new type of investment, so I'm no expert!

I'm betting the Fig guys will make a post here at some point soon to update you all on the path timeline...

We at iDGi have been and remain hyper focussed on getting this here complicated videogame done for y'all. ;-)
Do, or do not. There is no try.

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Re: Fig Investment

Post by FordGT90Concept » Sun Apr 16, 2017 2:10 pm

That's great to hear that Fig is helping you out until they solve their legal problems. Sad, and perhaps disrespectful, that Fig hasn't kept pledgers in the loop about these hurdles.
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Re: Fig Investment

Post by Mykll » Sun Apr 16, 2017 5:06 pm

Thanks for the response GreatBird. I just worry about you guys. I know the $300,000 goal wasn't even the full amount needed, and all I could see is that for almost a year all you got was maybe $90,000 for the entire team. And then other large products, so far two with direct ties to Fig, were able to get through the system. This is not like KS where I have a big history of knowing delays, ok with no updates for a few months, etc. This is a different platform with a different crowdfunding type system, so it seems without a lot more history or Fig being a lot more open, things haven't seemed right. Like unfortunately The Tower was too early to have any form of "Slacker Backer" treatment. Or so it seems.

Well I guess as long as Fig is supporting iDGi, and the team can still pay their bills and eat more than Ramen noodles, and everyone can take care of their growing families, then I will try to not worry about things too much. With such a new platform I would have hoped Fig would be more open.
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Re: Fig Investment

Post by GreatBird » Mon Apr 17, 2017 3:13 pm

We really, deeply appreciate your concerns about our wellbeing. Truly!! :D

However, in the grand scheme of things, things really are going according to plans put down in early 2016. Game is coming together like a massive jigsaw puzzle, at this point. :)
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Re: Fig Investment

Post by Mykll » Tue Jun 13, 2017 11:07 am

Well Fig filed to the SEC this week. Progress!

mailchi.mp/fig/mailchimp-781377
We realize that a year has passed since the Fig campaign for this title successfully completed, so I want to take a moment now to describe why there was such a delay.

There have been a few suggestions that we prioritized our big titles and those of our advisory studios. While we can see how people could draw that conclusion, it actually couldn’t be further from the truth. With CTT, the budget was at the size where Fig has been able to supply Interdimensional Games their full funds with our existing cash prior to selling the shares, so CTT could steadily progress toward completion. And in fact its development has not been affected by the regulatory delays. As a result, CTT is still on track for full release next year, and now there’s even less development risk and time between funding your investment and receiving potential returns.
For me that doesn't really answer why the delay, or why larger, and, more importantly, advisory studios, were able to get through. Fig being able to cover those funds with on hand cash doesn't explain why the delay in filing with the SEC. Oh well, as long as IDGI is being taken care of, and looks like progress is being made.
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Re: Fig Investment

Post by FordGT90Concept » Tue Jun 13, 2017 5:38 pm

I'm just glad
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