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studio-financials [2017/03/12 00:12] – [Crowdfunding Campaign] Carlos Pedrazastudio-financials [2018/10/23 15:44] (current) – [The Other First Fan-Funded Studio] Carlos Pedraza
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 ====== Thin Financial Report and a New Crowdfund Campaign ====== ====== Thin Financial Report and a New Crowdfund Campaign ======
  
-//**Is Studio Fundraising Campaign an End Run Around Settlement Crowdfunding Prohibition?**//+//**Ten Months Later, So-Called Independent Report Mysteriously Disappears From Axanar Website**//
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 +<wrap lo><wrap em>UPDATE</wrap> On January 24, 2018, Axanar's Donor Memo and Financial Report was discovered to have been [[http://www.axanarproductions.com/wp-content/uploads/2017/03/Axanar-Donor-Memo-08-Mar-17.pdf|removed]] from the Axanar website. Fortunately, the document is archived elsewhere. [[https://www.yumpu.com/en/document/view/57338222/lay-in-a-course-for-the-future|Read here »]]</wrap>
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 Axanar has released its long-promised financial review, part of a package of news for its donors, including some of its future plans post-lawsuit and a new crowdfunding campaign to pay for the rent of the studio it built with donations meant to produce a film. Axanar has released its long-promised financial review, part of a package of news for its donors, including some of its future plans post-lawsuit and a new crowdfunding campaign to pay for the rent of the studio it built with donations meant to produce a film.
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 +{{ ::childrens-book.jpg?nolink|}}
 +<wrap lo>**COMIC BOOK** AxaMonitor has published a digital comic book, "[[think_children|Think of the Children]]," that offers a lighthearted, easy-to-understand explanation of Axanar's finances.</wrap>
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 In a seven-page memorandum emailed to his donors on March 8, 2017, Axanar producer [[Alec Peters]] laid out his plans for: In a seven-page memorandum emailed to his donors on March 8, 2017, Axanar producer [[Alec Peters]] laid out his plans for:
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 [{{ :axabook.jpg?nolink&100|}}] [{{ :axabook.jpg?nolink&100|}}]
-<wrap lo>**THE NEW 'AXANAR'** The March 8, 2017 donor update revealed what form //Axanar// will take, reduced by the lawsuit settlement from feature length to two 15-minute segments: "These will be presented as Episodes Four and Five of The Four Years War Documentary, picking up where Episode Three, //Prelude to Axanar//, left off and tell the story of the Battle of Axanar and the peace that followed." \\ <wrap indent>**TRANSMEDIA PRODUCTION** Producer Alec Peters also promised donors an //Axanar// "trans-media production," including "an audio drama of the full script, a complete illustrated script with production art, story boards and graphics and written fiction to fill in the gaps in this amazing story."((Axanar Donor Memo, “The Future of Axanar,” p. 1, 3/8/17.))</wrap></wrap>+<wrap lo>**THE NEW 'AXANAR'** The March 8, 2017, donor update revealed what form //Axanar// will take, reduced by the lawsuit settlement from feature length to two 15-minute segments: "These will be presented as Episodes Four and Five of The Four Years War Documentary, picking up where Episode Three, //Prelude to Axanar//, left off and tell the story of the Battle of Axanar and the peace that followed." \\ <wrap indent>**TRANSMEDIA PRODUCTION** Producer Alec Peters also promised donors an //Axanar// "trans-media production," including "an audio drama of the full script, a complete illustrated script with production art, story boards and graphics and written fiction to fill in the gaps in this amazing story."((Axanar Donor Memo, “The Future of Axanar,” p. 1, 3/8/17.))</wrap></wrap>
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-Peters [[summary_fact_check|announced]] the review in November 2015 following a court filing by the plaintiffs, [[CBS]] and [[Paramount Pictures]], in their year-long [[copyright infringement]] [[lawsuit]] against Peters and Axanar that eventually [[axanar_settles|settled]] out of court in January.+Peters [[summary_fact_check|announced]] the review in November 2016 following a court filing by the plaintiffs, [[CBS]] and [[Paramount Pictures]], in their year-long [[copyright infringement]] [[lawsuit]] against Peters and Axanar that eventually [[axanar_settles|settled]] out of court in January 2017.
  
 ==== Personal Spending ==== ==== Personal Spending ====
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 Peters had long claimed he had put in $150,000 of his own money to keep Axanar afloat after donor money ran out in 2016, essentially paying back the questioned expenses and the salary he had claimed in 2015. The plaintiffs denounced that as an "after the fact" transaction intended to obfuscate how he had actually spent the money in real time. Peters had long claimed he had put in $150,000 of his own money to keep Axanar afloat after donor money ran out in 2016, essentially paying back the questioned expenses and the salary he had claimed in 2015. The plaintiffs denounced that as an "after the fact" transaction intended to obfuscate how he had actually spent the money in real time.
  
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 //**__‘What the report lacked was any documentation whatsoever — for expenses or income — especially the personal cash infusion Peters claimed he and others put into the corporation.’__**// <wrap indent>— //‘No Documentation’//</wrap> //**__‘What the report lacked was any documentation whatsoever — for expenses or income — especially the personal cash infusion Peters claimed he and others put into the corporation.’__**// <wrap indent>— //‘No Documentation’//</wrap>
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 Peters justified paying himself because he worked full time on his project. “Charities,” he wrote, “pay salaries to their full-time employees."(([[https://www.kickstarter.com/projects/194429923/star-trek-axanar/comments?cursor=14623710#comment-14623709|Alec Peters comment, Star Trek Axanar Kickstarter project]], 10/9/16.)) Peters justified paying himself because he worked full time on his project. “Charities,” he wrote, “pay salaries to their full-time employees."(([[https://www.kickstarter.com/projects/194429923/star-trek-axanar/comments?cursor=14623710#comment-14623709|Alec Peters comment, Star Trek Axanar Kickstarter project]], 10/9/16.))
  
-Peters failed to note that Axanar Productions is not a charity, even though it has often [[axanar_myths|portrayed itself]] as a nonprofit organization; it is instead registered as a [[statement-information|for-profit corporation]] in California. And why justify paying a salary he now claims he didn't pay himself?+Peters failed to note that Axanar Productions is not a charity, even though it has often [[axanar_myths|portrayed itself]] as a nonprofit organization; it was instead registered at the time as a [[statement-information|for-profit corporation]] in California. And why justify paying a salary he now claims he didn't pay himself?
  
 ==== No Documentation ==== ==== No Documentation ====
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 >  We've got to get the studio on sound financial footing.  And then we'll work on the budget for the two [//Axanar//] segments.(([[yout>HuNVuYeAmKs|Axanar Lawsuit Settlement with Alec Peters, Trekyards Podcast #33]], 2/12/17.)) >  We've got to get the studio on sound financial footing.  And then we'll work on the budget for the two [//Axanar//] segments.(([[yout>HuNVuYeAmKs|Axanar Lawsuit Settlement with Alec Peters, Trekyards Podcast #33]], 2/12/17.))
  
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 //**__<wrap lo>« The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: Your decisions are tainted by the emotional investments you accumulate. »</wrap>__**// <wrap indent>— //David McRaney, The Sunk Cost Fallacy//</wrap> //**__<wrap lo>« The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: Your decisions are tainted by the emotional investments you accumulate. »</wrap>__**// <wrap indent>— //David McRaney, The Sunk Cost Fallacy//</wrap>
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 Peters failed to reply by the time this article was posted. He had previously boasted about his soundstage's capabilities compared to studio spaces in the Los Angeles area, stating Industry Studios would be able to command rental rates of $3,000-$5,000 a day. He neglected to mention his competitors offer soundproofed facilities.(([[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/|"Correction: It was not cheaper (as far as I can tell) for Axanar Productions to build a studio than to rent one," Jonathan Lane, Fan Film Factor blog]], 2/19/17.)) Peters failed to reply by the time this article was posted. He had previously boasted about his soundstage's capabilities compared to studio spaces in the Los Angeles area, stating Industry Studios would be able to command rental rates of $3,000-$5,000 a day. He neglected to mention his competitors offer soundproofed facilities.(([[http://fanfilmfactor.com/2017/02/19/correction-it-was-not-cheaper-as-far-as-i-can-tell-for-axanar-productions-to-build-a-studio-than-to-rent-one/|"Correction: It was not cheaper (as far as I can tell) for Axanar Productions to build a studio than to rent one," Jonathan Lane, Fan Film Factor blog]], 2/19/17.))
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 //**__<wrap lo>Peters’ proclamation of a lofty new mission for Axanar actually is not the first fan-funded studio. That claim belongs to Legion M, established in 2016.</wrap>__**// <wrap indent>— //‘First Fan-Funded Studio’//</wrap> //**__<wrap lo>Peters’ proclamation of a lofty new mission for Axanar actually is not the first fan-funded studio. That claim belongs to Legion M, established in 2016.</wrap>__**// <wrap indent>— //‘First Fan-Funded Studio’//</wrap>
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 > Our plan is to use the revenue generated by renting our facility too [sic] help subsidize the cost of making that same facility available to independent, fan and student producers. To help further that mission, we’ll be launching a crowdfunding campaign on Wednesday, March 8th, to raise funds to cover the hard costs of the soundstage: rent, insurance, utilities and storage (about $15-18k/month). The more we raise, the less we’ll have to rely on commercial rents to help us advance our mission.((Axanar Donor Memo, "The Future of Industry Studios," p. 3, 3/8/17.)) > Our plan is to use the revenue generated by renting our facility too [sic] help subsidize the cost of making that same facility available to independent, fan and student producers. To help further that mission, we’ll be launching a crowdfunding campaign on Wednesday, March 8th, to raise funds to cover the hard costs of the soundstage: rent, insurance, utilities and storage (about $15-18k/month). The more we raise, the less we’ll have to rely on commercial rents to help us advance our mission.((Axanar Donor Memo, "The Future of Industry Studios," p. 3, 3/8/17.))
  
-[{{ :kickstarter_logo.jpg?direct|**LAUNCH DELAY** Axanar plans a Kickstarter campaign to pay for rent and utilities on the studio they built with donor funds meant to produce a movie it never made.}}]+[{{ :kickstarter_logo.jpg?direct|**LAUNCH DELAY** Axanar plans a Kickstarter campaign to pay for rent and utilities on the studio it built with donor funds meant to produce its never-made movie.}}]
  
 === Delayed Kickstarter Launch === === Delayed Kickstarter Launch ===
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 Peters' lofty new mission for the yet-to-be nonprofit actually is not the first fan-funded studio. That claim belongs to [[http://thelegionm.com|Legion M]], "the first studio in history built from the ground up to be owned by fans." Peters' lofty new mission for the yet-to-be nonprofit actually is not the first fan-funded studio. That claim belongs to [[http://thelegionm.com|Legion M]], "the first studio in history built from the ground up to be owned by fans."
  
-LegionM was founded a year before Peters' announcement.(([[http://variety.com/2016/digital/news/legion-m-crowdfunded-studio-jobs-act-1201726003/|"Startup Legion M Launches Crowdfunded Studio That Lets Fans Buy Piece of Company," Variety]], 3/9/16.))+Legion M was founded a year before Peters' announcement.(([[http://variety.com/2016/digital/news/legion-m-crowdfunded-studio-jobs-act-1201726003/|"Startup Legion M Launches Crowdfunded Studio That Lets Fans Buy Piece of Company," Variety]], 3/9/16.))
  
 {{:axamonitor-ico.gif?nolink|}} {{:axamonitor-ico.gif?nolink|}}
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-**Keywords** {{tag>Axanar Nonprofit Crowdfunding}}+<wrap right>**Keywords** {{tag>Axanar Nonprofit Crowdfunding Financials Fact_check}}</wrap>