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Coleco Chameleon .... hardware speculations?


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Straight from:

https://www.startengine.com/intellivision

 

 

Revenue Share Agreement

We are a party to a Revenue Sharing Agreement with Fig Publishing, Inc., pursuant to which FIG agreed to provide us with up to $15,000,000 in capital, and provide various marketing, sales and distribution services, in exchange for our payment to Fig of a percentage of revenue generated through the sale of the Intellivision Amico and certain games. Until such time as Fig has received a return equal to 3 times the funds advanced to us, Fig is entitled to receive 5% of revenue, less certain expenses, generated from the sale of the Amico through a third party sales channel or distributor, such as Amazon, Walmart and Gamestop (“Indirect System Revenue”) 15% of revenue generated from the direct sale of the Intellivision Amico through other channels (“Direct System Revenue”), and 25% of all revenue derived from game sales (“Game Revenue”). During the 12 month period commencing after Fig has received an amount equal to three times the capital it has provided us, Fig is entitled to 10% of Direct System Revenue and 20% of Game Revenue, and during the 12 month period thereafter, 5% of Direct System Revenue and 15% of Game Revenue.


I can't quite make up what it means, but I'll try anyway.... does it mean FIG provides "up to" 15M and they have to return it back 3 times over and then for the next 24mo they still owe quite a lot (given it's revenues and not profit) .....

Is that right? I mean 3x return .... I wonder what clause is there if (well really when) they instead go belly up ... 

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47 minutes ago, phoenixdownita said:

Straight from:

https://www.startengine.com/intellivision

 

 

Revenue Share Agreement

We are a party to a Revenue Sharing Agreement with Fig Publishing, Inc., pursuant to which FIG agreed to provide us with up to $15,000,000 in capital, and provide various marketing, sales and distribution services, in exchange for our payment to Fig of a percentage of revenue generated through the sale of the Intellivision Amico and certain games. Until such time as Fig has received a return equal to 3 times the funds advanced to us, Fig is entitled to receive 5% of revenue, less certain expenses, generated from the sale of the Amico through a third party sales channel or distributor, such as Amazon, Walmart and Gamestop (“Indirect System Revenue”) 15% of revenue generated from the direct sale of the Intellivision Amico through other channels (“Direct System Revenue”), and 25% of all revenue derived from game sales (“Game Revenue”). During the 12 month period commencing after Fig has received an amount equal to three times the capital it has provided us, Fig is entitled to 10% of Direct System Revenue and 20% of Game Revenue, and during the 12 month period thereafter, 5% of Direct System Revenue and 15% of Game Revenue.


I can't quite make up what it means, but I'll try anyway.... does it mean FIG provides "up to" 15M and they have to return it back 3 times over and then for the next 24mo they still owe quite a lot (given it's revenues and not profit) .....

Is that right? I mean 3x return .... I wonder what clause is there if (well really when) they instead go belly up ... 

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On 2/13/2022 at 1:56 AM, phoenixdownita said:

Well, it's only fitting:
 

 

If Phil Adam ends up being twice in a failed retro-console-grab-an-old-glory-name-and-slap-it-onto-something .... it would be quite the coincidence .... it's quite absurd really ... well surreal.

It's not a coincidence. Scammers gonna scam.

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3 hours ago, phoenixdownita said:

I assume it'll be quick at this point ayway ;-)

And man this new "CEO" has done a wonderful job so far- makes an announcement for end of Feb (which didn't happen), ended the 4th (!) fundraising round early without any communication, and has been AWOL for two weeks since doing a few fawning interviews on the same Youtube channels that contributed to their perception issues in the first place.  Very professional conduct for sure.  It bodes well.

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Did not watch the video 

but in the comments there's this:
image.thumb.png.3068d23cc47382c55ba94849c1b0d47d.png


you know what they say "buy on the rumor, sell on the news" .... except I ain't buying. 
Maybe Sasha made that stuff up, who knows, we shall see .... one thing I learnt the hard way is that "angel soft (r)" toilet paper ain't either angel neither soft .... I assume the "angel investor" mentioned (if real that is) is kind of like that.

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