Collision models aren't compiling?

I’m trying to compile a model that can be bone-merged. I’ve got it all working except for a collision model. My model compiles like this:
Compiling with Crowbar 0.27.0.0: “C:\Users\Luke\Desktop\Steam Mods\Mine\Gmod\Homestuck Model Pack\ring\final\ring.qc” …


 Compiling ".\ring.qc" ...
    qdir:    "c:\users\luke\desktop\steam mods\mine\gmod\homestuck model pack\ring\final\"
    gamedir: "C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\"
    g_path:  "ring.qc"
    Building binary model files...
    Working on "ring.qc"
    SMD MODEL ring.smd
    SMD MODEL mobius_protos.smd
    SMD MODEL blank.smd
    SMD MODEL kid_protos.smd
    SMD MODEL troll_protos.smd
    SMD MODEL ring_phys.smd
    Collision model completed.
    ---------------------
    writing C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\models/homestuck\ring.mdl:
    bones         1248 bytes (2)
       animation       x       y       ips    angle
           @idle    0.00    0.00 :    1.#J (  90.00) 0.0
    animations     136 bytes (1 anims) (1 frames) [0:00]
    sequences      224 bytes (1 seq) 
    ik/pose       1100 bytes
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    eyeballs         0 bytes (0 eyeballs)
    flexes           0 bytes (0 flexes)
    textures       136 bytes
    keyvalues        0 bytes
    bone transforms      336 bytes
    bone flex driver       0 bytes
    collision        0 bytes
    total         4124
    ---------------------
    writing C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\models/homestuck\ring.vvd:
    vertices     27456 bytes (572 vertices)
    vertices      3072 bytes (64 vertices)
    vertices      1152 bytes (24 vertices)
    vertices      3072 bytes (64 vertices)
    vertices      1152 bytes (24 vertices)
    vertices     12288 bytes (256 vertices)
    vertices      1152 bytes (24 vertices)
    tangents      9152 bytes (572 vertices)
    tangents      1024 bytes (64 vertices)
    tangents       384 bytes (24 vertices)
    tangents      1024 bytes (64 vertices)
    tangents       384 bytes (24 vertices)
    tangents      4096 bytes (256 vertices)
    tangents       384 bytes (24 vertices)
    total        65856 bytes
    ---------------------
    Generating optimized mesh "C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\models/homestuck\ring.sw.vtx":
    body parts:        32 bytes
    models:           140 bytes
    model LODs:        84 bytes
    meshes:            63 bytes
    strip groups:     175 bytes
    strips:           189 bytes
    verts:           9252 bytes
    indices:         3384 bytes
    bone changes:       8 bytes
    everything:     13279 bytes
    ---------------------
    Generating optimized mesh "C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\models/homestuck\ring.dx80.vtx":
    body parts:        32 bytes
    models:           140 bytes
    model LODs:        84 bytes
    meshes:            63 bytes
    strip groups:     175 bytes
    strips:           189 bytes
    verts:           9252 bytes
    indices:         3384 bytes
    bone changes:      64 bytes
    everything:     13335 bytes
    ---------------------
    Generating optimized mesh "C:\Program Files (x86)\Steam\steamapps\common\Source SDK Base 2013 Multiplayer\hl2\models/homestuck\ring.dx90.vtx":
    body parts:        32 bytes
    models:           140 bytes
    model LODs:        84 bytes
    meshes:            63 bytes
    strip groups:     175 bytes
    strips:           189 bytes
    verts:           9252 bytes
    indices:         3384 bytes
    bone changes:      64 bytes
    everything:     13335 bytes
    
    Completed "ring.qc"
  ... Compiling ".\ring.qc" finished. Check above for any errors.




It does actually say “Collision model completed”, and lists the phys model, but in HLMV there’s no Collision mesh…

Here’s my .QC:


$modelname "homestuck\ring.mdl"
$body ring "ring.smd"


$bodygroup mobius

{
	studio "mobius_protos.smd"
	studio "blank.smd"
}
$bodygroup kid
{
	studio "kid_protos.smd"
	studio "blank.smd"
}

$bodygroup troll
{
	studio "troll_protos"
	studio "blank.smd"
}

$surfaceprop plastic
$cdmaterials "models\homestuck\ring\"

$sequence idle "ring.smd"


$include DefineBones.qci

$collisionmodel ring_phys.smd {
	$mass 1
}