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| Sinden Lightgun Kickstarter date revealed! |
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| Titchgamer:
--- Quote from: JDFan on May 14, 2019, 09:49:33 am --- --- Quote from: Titchgamer on May 12, 2019, 05:47:55 pm ---Less than 48 hours and hes over 800%!! Thats some serious backing!! --- End quote --- Now the question that arises is will the manufacturing process he has chosen be able to scale production up 800% and still deliver in a timely manner without running into to quality problems/cost overruns that cause him to be unable to deliver as promised without taking 8x the time ! --- End quote --- Over 900% now though! The funny thing is its now pulled in nearly the amount he was after with the original KS. Obviously though he has worked very hard to show the product, Improve on criticisms and gain the trust of the community. |
| Mike A:
I don't see how he can gain any trust until someone has a light gun in their hand. He needs to deliver on over 1900 units with only 300 thousand dollars minus whatever income tax he has to pay on that money. Kickstarter funds are considered income. This is a pressure cooker in the making. |
| JDFan:
--- Quote from: Mike A on May 14, 2019, 10:05:41 am ---I don't see how he can gain any trust until someone has a light gun in their hand. He needs to deliver on over 1900 units with only 300 thousand dollars minus whatever income tax he has to pay on that money. Kickstarter funds are considered income. This is a pressure cooker in the making. --- End quote --- And don't forget the Kickstarter Fees (5%) and their payment processing fee (Stripe ( 3-5%)) etc. which takes about 30K of that 300K right off the top ! |
| Mike A:
I just noticed he formed a LTD. That would fall under corporate taxes first. SO (income - allowable expense)* .19 = UK corporation tax. I am not familiar with UK allowable expenses, but in the US you can wipe out a lot of your corporate tax liability with expenses and losses. The trouble would come when he tries to take money out of the company. Then he gets hit with individual income tax. Double whammy. This stuff gets complicated fast and it is where many people fall flat. Unexpected tax liabilities can kill a company fast. Cash flow is probably the biggest hurdle. It is great to start with gobs of money but the flow is more important. |
| Titchgamer:
Agreed its a hard slog, But he has stated on more than one occasion that he wants this to just be the beginning of something bigger. This is phase 1 (as he has named it). Phase 2 he wants to go wireless and look at making it compatible with other original consoles. He has already got it working with PSX so that is a good start as PSX and PS2 are the biggest lightgun systems out there. The fact he has a 900% backing shows that people want this and so if he nails it then there will be no shortage of customers to buy his product so cash flow should not be a problem especially with future updates. And when I said he has been trying to build trust thats all he can do. Admittedly you cant say 100% until the product is shipped out to customers but he has tried hard to get it into the hands of people to try it for themselves and give criticism of it. Obviously I had a day of playing with it and several others have to as well as that you tube guy. Apart from that I dont see he could of done anything else to show the product works and get community backing. |
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