The 64 campaign got $100k on Indiegogo. About 10% of that is lost in fees etc. So that means they got $90k.
However, do they also have to pay VAT/sales tax/tax on that?
Oddly, the company is in th UK but they collected funds in USD. So not sure what country tax rules apply if any
I guess the question is whether they keep the $90k or had to deduct tax from that?
I guess looking at their last update, it seems they are relying on a deal with the manufacturer in order to have them made. Perhaps the manufacturer is paying all expenses including molds etc in exchange for a percentage of the company. That or they got an Investment from some other company. I can't see any other way they would otherwise pay for the development and manufacture of the three consoles
Here was their last update:
Part 1 of 2 (10th May 2017)
Well where do we begin!
Yesterday we meet and had a full on extended meeting with our distribution/manufacturing partners here in the UK. But don’t be fooled, they are part of a global group, who work with some of the biggest game companies in the world. So here is a short summary of where we are, and what’s happening right now!
- A deal has been agreed by all parties and is just pending the paperwork be verified by all parties (obviously IP contracts and so on have to be incorporated and sighted etc. etc.). It is anticipated this will take a few weeks, and then once complete full details of the partnership can be made public.
- Pending that paperwork formality taking place, and not waiting for that the two companies have sub divided the joint tasks into three distinct group actions, with a lead person from both companies in each group.
- Group one - as mentioned above, will carry out the legal formalities of paperwork, this has started today. Be under no illusion this is a huge undertaking for both companies, with large investments in terms of time, money, and commitment from all.
- Group two – one of the design team is being tasked to travel to China next week, to work with the actual manufacturers of THE64 range, to expedite the whole manufacturing process ASAP! The sooner this happens, the sooner backers get their THE64’s prior to retail release.
- Group three – this group is starting work on the joint preparation process of global game rating assessment (PEGI for Europe, the extra USK rating for Germany, ESRB for the USA, rating for Australia, and so on). Packaging designs can now start fully, full brand artwork, marketing and promotional materials, accessories, manuals and translations, videos, trailers and so on. The whole machine will now swing into action and we will show you are much of this process as is allowed as we move ahead.
So what does this mean to you guys?
Here are the rough time lines for the next few weeks…
- Once the final paperwork is sorted as above, we will confirm who we are working with.
- Once the paperwork and the China visit is over and the guys are back, etc. etc. we can confirm the manufacture and delivery time lines to you all (but more on that below).
- We will try and give you a first glimpse at some of the box art work and so on as well!
- We should be able to run the poll to give you guys a say in what games go on the range for the standard version!
Part 2 of 3 (10th May 2017)
(there will be three updates now as cant squeeze it all in!!)
What else can we tell you, well…
- We can confirm that we are upgrading the specification of the originally planned ‘joypad’ to be included with the appropriate versions, (and also the promised EXTRA FREE one to all Indiegogo backers, and pre-order supporters to thank you for your patience and support) is now going to be upgraded to a JOYSTICK!! You can guess what it’s going to look like….!!
- We are almost certainly going to do several special edition bundles… we think we can offer all Indiegogo backers, and those pre-ordered web supporters an option to stay with the standard versions they are down for now, or take the option of instead substituting the standard versions for the special edition versions planned at no extra cost! More details on those as soon as possible!
- We are looking at the most appropriate way to work with our partners to take pre-orders for people wanting to guarantee that they get THE64 MINI, THE64 Full Size Keyboard, THE64 special editions and so on prior to retail release… we all know demand sometimes is higher than supply for new popular consoles especially as people often want them as gifts for Xmas, but we will try to avoid that if we can for people (not already down for one) to pre-order systems and special offers. So if you want to make sure, and don’t want to rely on getting one from the stores (and not already ordered), hang tight we will roll that out ASAP as well potentially!
Finally, of course we know you want to see more, to know more, and we are going as fast as we can, but logistically we are now talking a global roll out, across many countries, many variations and it really is a huge deal!
Part 3 of 3 (10th May 2017)
Finally, of course we know you want to see more, to know more, and we are going as fast as we can, but logistically we are now talking a global roll out, across many countries, many variations and it really is a huge deal!
But things we can confirm to you all –
- Backers and pre-orders will be fulfilled before retail sales commence; we WILL BE in global retail in advance of Christmas 2017, but backers/pre-orders before that time.
- There is THE64 MINI, but yes there is THE64 full sized keyboard also (just to be clear), and the Handheld ASAP also! Plus you will be able to buy extra official Joysticks, and other special editions, and bundles, accessories and so on as above also. We will explain soon how the whole range works!
- We will tell and show as much as we can, as soon as we can at each stage.
- All being well the first time the public will get to see THE64 range should be at the biggest game event in the world E3 in the USA later this year, more on that ASAP (but don’t worry anyone who can’t get to it we will also roll out full video access for you all as well!!)
- Following on from that THE64 will also feature at Gamescom later in the year in Germany!
So make sure you come and see us at one of these events!
As ever we want to thank you all for your support, and your patience, so now strap yourselves in, and lets start the engines please!! Keep watching!!
