Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revisionPrevious revision
Next revision		Previous revision
axanar_finances [2016/07/03 13:56] – [Accusations of Theft, Extortion] adds McIntosh pic Carlos Pedrazaaxanar_finances [2018/09/21 16:48] (current) – [Axanar is Broke, Peters Claims] edit to clarify Carlos Pedraza
Line 3: Line 3:
 ====== Axanar is Broke, Peters Claims ====== ====== Axanar is Broke, Peters Claims ======
  
-//**Axanar's Offer to Buy Ares Digital Reveals Precarious Financial Situation**//+//**Axanar Surrogate Claims Donor Funds in Escrow**//
  
-In May 2016, Axanar producer [[Alec Peters]] claimed the production was out of money, and was offering stock in its donor-funded [[investor_group|studio]] to help with operating costs.+<WRAP> 
 +//**__ __**// <wrap lo>**By [[user>cpedraza|Carlos Pedraza]]**</wrap> 
 +</WRAP>
  
-"We don't have any cash right now," Peters informed his former chief technologist, Terry McIntosh, who had resigned just a day before amid growing donor complaints about Axanar's [[perks|inability to deliver]] promised perks.+In May 2016, Axanar producer [[Alec Peters]] claimed the production was out of money, and was offering stock in its donor-funded [[investor_group|studio]] to help with shipping perks to donors.
  
 +"We don't have any cash right now," Peters informed his former chief technologist, Terry McIntosh, who had resigned just a day before amid growing donor complaints about Axanar's [[perks|inability to deliver]] supporters' promised perks.
 +
 +===== Escrow Account =====
 +
 +<WRAP round important>
 +<wrap em>**UPDATE**</wrap> July 4, 2016 — A surrogate for Peters, Rand Johnson, claimed on Facebook that the report Axanar was out of money "couldn't be further from the truth."(({{::rand-escrow.jpg?linkonly|Rand Johnson (admin) post}}, I Stand with Axanar Facebook group, 7/4/16.))
 +
 +Johnson further claimed that donors' money was safe in an escrow account:
 +
 +> Alec Peters has not used donation funds for anything but making //Axanar// and all donor funds would safely be tucked away in an escrow account only to be used to make the film. … Axanar is not running out of money … and our donation money is indeed perfectly safe.(({{::rand-escrow.jpg?linkonly|Rand Johnson (admin) post}}, I Stand with Axanar Facebook group, 7/4/16.))
 +
 +**AxaMonitor** emailed Axanar spokesman Mike Bawden to confirm the existence of the escrow account and to disclose how much donor money was in that account, as well as to whether Johnson was speaking officially on behalf of Axanar. At the time of this posting Bawden hadn't yet responded.
 +
 +However, in a May 27 interview on the Axanar blog, Bawden described just such a scenario for a hypothetical fan film flush with funds from a more-successful-than-planned crowdfunding campaign:
 +
 +> When it’s a fan project, then you’ve gotta wonder, “What are we gonna do with the extra [money]? Because we can’t pocket it. We can’t count it as profit.” And at that point, then, my advice to somebody would be to say, “<wrap hi>You need to take that money and put it in an escrow account.</wrap> And you need to say, ‘When we’re ready to do our sequel to this first project, we are … ahead of where we would be.’”(([[http://www.axanarproductions.com/fan-film-friday-the-realities-of-crowd-funding-part-4/|Mike Bawden interview, "Fan Film Friday – The Realities of Crowd-Funding, part 4,"]] by Jonathan Lane, Axanar Blog, 5/27/16.)) <wrap lo>[emphasis added]</wrap>
 +</WRAP>
 ===== The Offer ===== ===== The Offer =====
-<WRAP right box 50%>+ 
 +<WRAP right round box 50%>
 //**__« I question whether or not Alec could make the statement that Axanar is out of money. »__**// — //Axanar spokesman Mike Bawden// //**__« I question whether or not Alec could make the statement that Axanar is out of money. »__**// — //Axanar spokesman Mike Bawden//
 </WRAP> </WRAP>
Line 21: Line 41:
 ==== Unknown Financial Status ==== ==== Unknown Financial Status ====
  
-Axanar spokesman Mike Bawden, contacted for comment on Peters' assessment of Axanar's cash position, said Peters couldn't know that:+Bawden, contacted for comment on Peters' assessment of Axanar's cash position, said Peters couldn't know that:
  
 > I don't have any first-hand knowledge of the financial standing of Axanar Productions and, quite frankly, I'm not sure Alec does either since as far as I know the accountant that's been retained still has all of the financial records and is still working on comprehensive financial reports for review. So I question whether or not Alec could make the statement that Axanar is out of money.((Mike Bawden email to AxaMonitor editor Carlos Pedraza, 7/3/16.)) > I don't have any first-hand knowledge of the financial standing of Axanar Productions and, quite frankly, I'm not sure Alec does either since as far as I know the accountant that's been retained still has all of the financial records and is still working on comprehensive financial reports for review. So I question whether or not Alec could make the statement that Axanar is out of money.((Mike Bawden email to AxaMonitor editor Carlos Pedraza, 7/3/16.))
 +
 +<WRAP right round info 50%>
 +<wrap lo>**FOR MORE** information about Axanar's finances, see the article, [[ambition_vs._achievement|Axanar: Ambition vs. Achievement]], part of **AxaMonitor**'s ongoing series of [[analysis]] pieces.</wrap>
 +</WRAP>
 +
 +The news that Axanar may have run out of money raises a variety of questions about its spending, given how much it should have had on hand in January 2016 — hundreds of thousands of dollars — when the [[CBS]]/[[paramount_pictures|Paramount]] [[copyright infringement]] [[lawsuit]] shut down its ongoing [[axanar_indiegogo_details|Indiegogo]] fundraising campaign.
 +
 +Peters' admission also highlights how important the commercial opportunity his Industry Studios venture is to simply giving Axanar a home.
  
 ==== Donor Data ==== ==== Donor Data ====
Line 45: Line 73:
 McIntosh's revelations were prompted by an accusation on Facebook by Axanar supporter Charles Britto, an associate of Peters', that in taking Ares Digital with him, McIntosh had absconded with donor data that properly belonged to Axanar then tried to extort $20,000 from the production. In a Facebook post, Britto accused: McIntosh's revelations were prompted by an accusation on Facebook by Axanar supporter Charles Britto, an associate of Peters', that in taking Ares Digital with him, McIntosh had absconded with donor data that properly belonged to Axanar then tried to extort $20,000 from the production. In a Facebook post, Britto accused:
  
-> Terry [McIntosh] took data that didn't belong to him, and refused to return it. Then tried to extort $20,000 from Axanar to return it. Yea, he's a good source of honesty … hahaha.(([[face>groups/stforfansbyfans/permalink/2058432297714734/?comment_id=2058467804377850&comment_tracking=%7B%22tn%22%3A%22R9%22%7D|Charles Britto post, Star Trek Fan Productions Facebook group]], 7/2/16.)) +> <wrap lo>{{::britto-mug.jpg |}}**Charles Britto** \\ Terry [McIntosh] took data that didn't belong to him, and refused to return it. Then tried to extort $20,000 from Axanar to return it. Yea, he's a good source of honesty … hahaha.</wrap>(([[face>groups/stforfansbyfans/permalink/2058432297714734/?comment_id=2058467804377850&comment_tracking=%7B%22tn%22%3A%22R9%22%7D|Charles Britto post, Star Trek Fan Productions Facebook group]], 7/2/16.))
- +
-[{{ :terry-headshot.jpg?150|Former Axanar chief technologist **Terry McIntosh**}}]+
  
 McIntosh disputed that characterization, saying that Axanar retained all its original donor data, but the data he transformed into Ares Digital was part and parcel of the technology, which McIntosh said he owns. "I'm not just handing over Ares Digital's 'secret sauce' because Axanar is broke," he added: McIntosh disputed that characterization, saying that Axanar retained all its original donor data, but the data he transformed into Ares Digital was part and parcel of the technology, which McIntosh said he owns. "I'm not just handing over Ares Digital's 'secret sauce' because Axanar is broke," he added:
 +
 +[{{ :terry-headshot.jpg?150|Former Axanar chief technologist **Terry McIntosh**}}]
  
 > They have all of the original donor data, and always have. … The Axanar donor data that was in Ares Digital has been properly erased from the database server, as I promised that it would be, since I have no business need to possess it.  The donor data is safe with Axanar and Axanar alone. > They have all of the original donor data, and always have. … The Axanar donor data that was in Ares Digital has been properly erased from the database server, as I promised that it would be, since I have no business need to possess it.  The donor data is safe with Axanar and Axanar alone.
Line 56: Line 84:
  
 {{section>ares digital update#perk problems}} {{section>ares digital update#perk problems}}
 +{{:axamonitor-ico.gif?nolink|}}
 +
 +----
 +**Keywords** {{tag>commercial crowdfunding}}