iamlindoro
Novice
- Joined
- Oct 22, 2012
- Messages
- 30
Not to mention this:
This is terrible accounting. The cost of funding can be either deducted from the funding or added to costs, but not both. Either the amount raised *and* the costs are $435K, or they're both $375K, depending on how you account for the funding costs. At best, this is sloppy math (which doesn't inspire confidence). At worst, it's a manipulation of the numbers to try to dredge up more support.
Let’s look at all the money we've received from crowdfunding and our site:
Here’s where we spent the original Kickstarter funding:
- Pledged on Kickstarter (Gross): $409,000 (but some did not pay)
- PayPal and Humble Bundle (Gross): $26,000
- Total Crowd-Funding to Date (Gross): $435,000
- Deductions and Funding Costs: $60,000
- Total Crowd-Funding to Date (Net): $375,000
- Art and Animation $205,000 (includes work on virtual rewards)
- Programming $85,000
- Music $25,000
- Taxes/Fees/Overhead $75,000 (includes cost of funding)
- Software/Supplies $10,000 (Unity and other licenses)
- Rewards and Shipping $35,000
- TOTAL: $435,000
This is terrible accounting. The cost of funding can be either deducted from the funding or added to costs, but not both. Either the amount raised *and* the costs are $435K, or they're both $375K, depending on how you account for the funding costs. At best, this is sloppy math (which doesn't inspire confidence). At worst, it's a manipulation of the numbers to try to dredge up more support.