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Annual report MA

billairboy

billairboy

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Joined
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Örnsköldsvik, Sweden
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Bill Airboy Ivanhoe
Last edited:
Be interesting to see the translation.

Swedish does have some very long words doesnt it?

"investeringsverksamheten" for example. :)
 
http://translate.google.com/transla...MindArk-arsredovisning-2009.pdf&sl=auto&tl=en

Wonder if this is the "real" reason FPC was created - so MA could basically sell out the platform and move all their troops over to FPC? Wonder if MA will soon be owned by "Neverdie Studios" ?!?!?

It does make sense that converting to the new game engine caused losses since there were so many issues involved, and still are (where is taming again?)

This must be the official way of saying Mindbank is gone for now til they get better situated financially.

Loosing a lot does seem a bad, but all things accounted for, it was probably a smart move to get CE2 going, so moving foward, things might get a lot better. All of this accounted for, it's probably good that they didn't get the IPO out there yet... It does look bad, but given the real world economic crash, they actually look like they are still going strong.
 
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I can't read it but I do know a lot of "-" signs next to numbers is not a good thing...
 
Mega said:
Be interesting to see the translation.

Swedish does have some very long words doesnt it?

"investeringsverksamheten" for example. :)
Click to expand...

Lots of smart ppl in sweden... ;d
 
mastermesh said:
http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&layout=1&eotf=1&u=http%3A%2F%2Fwww.mindark.com%2Fpress%2Ffinancial-reports%2Fdocuments%2FMindArk-arsredovisning-2009.pdf&sl=auto&tl=en

Wonder if this is the "real" reason FPC was created - so MA could basically sell out the platform and move all their troops over to FPC?

It does make sense that converting to the new game engine caused losses since there were so many issues involved, and still are (where is taming again?)
Click to expand...

oh didnt know you could translate pdf's straight up :)

And in short.

Development costs has cost MA a lot which has led to less new features being developed which in turn has led to a loss of players.

The bank has been canceled for now due to not having enuogh cash for it.

Rebuild of house in germany is almost complete.

Less marketing is done due to planetpartners are going to do that.

planet calypso is intended to be sold for 6 million usd.
 
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The most important and the biggest concern, the cash flow:

Cash flow -18 662 882 SEK
Cash and cash equivalents at beginning of year 31,820,980 SEK
Exchange rate changes on cash and cash equivalents -36 474 SEK
Cash and cash equivalents at end of year: 13 121 624 SEK
 
so who is going down with the ship? :D


MA is probably doomed if everyone start to sell out
 
Well, time to increase the number of players or start fireing people, because it feels like they have increased the staff costs to much without a similar increase in deposits from the players.
 
Mega said:
Be interesting to see the translation.

Swedish does have some very long words doesnt it?

"investeringsverksamheten" for example. :)
Click to expand...

most long swedish words consist of more then one word and these words in english can't be connected but if you forget to connect em in swedish the grammar police will catch you, there are even dedicated websites about how important it is to listen to the grammar police and not forget to connect the words!

investeringsverksamheten = the investment activity(operation)
 
TheVoid said:
so who is going down with the ship? :D


MA is probably doomed if everyone start to sell out
Click to expand...

The players have 62 MSEK in peds and tt value, MA have 13 MSEK in cash....
 
Hmm, so MA appears to have lost money this year. I do hope that they return to profits, and not by nerfing my loot.
 
billairboy said:
The players have 62 MSEK in peds and tt value, MA have 13 MSEK in cash....
Click to expand...

13M SEK ~= 1.6M $
62M SEK ~= 7.9M $

1 U.S. dollar = 7.8901066 Swedish kronor
 
StatikNode said:
Hmm, so MA appears to have lost money this year. I do hope that they return to profits, and not by nerfing my loot.
Click to expand...

Hope in one hand and spit in the other and see which one fills up first :laugh:

I'm glad I don't have any money left in this hole :)
 
Legion said:
oh didnt know you could translate pdf's straight up :)

And in short.

Development costs has cost MA a lot which has led to less new features being developed which in turn has led to a loss of players.

The bank has been canceled for now due to not having enuogh cash for it.

Rebuild of house in germany is almost complete.

Less marketing is done due to planetpartners are going to do that.

planet calypso is intended to be sold for 6 million usd.
Click to expand...

Is it 6 million USD or sek? *Checked the Actual Doc, looks like US
sex miljoner USD
Click to expand...
And it says they are selling the german office.
 
so they have invested in a new place in germany, hired a bunch of new people, invested a whole bunch in new computers and stuff... put a few million into MindBank which they then postponed...

so they are at a loss atm but they can probably recouperate it? :scratch2:



We'll see, seems they have used a lot of money on stuff and staff...
 
billairboy said:
Seems like Calypso will be "sold" to a new owner.
Click to expand...

Maybe they'll sell it in the in-game auction? :)

I think Hanne is going to be busy answering some questions soon.
 
If I read it correctly and if the translation is near to correct, they didn't do that bad at all... of course there is loss but it's not big.
 
Dante said:
of course there is loss but it's not big.
Click to expand...

Yep, that is pretty much how I interpreted it too...

However, soon we will see the anti-MA-machines (you know, those who have no life at all, so they sit around at a forum complaining about a game they dont even play anymore) sizing it up to a "giant loss", "the sky is falling" and "MA going down, EU will stop existing"....
 
As I understand it:

MindArk has signed a Letter of intent with another company to sell the platform Planet Calypso for 6 million USD.

Part of the deal is that even if Planet Calypso is sold, MindArk will still get 50% of any income Calypso generates.

MindArk expect that their income from Calypso will increase significally when the new owner start to implement new features and also start advertising for our beloved pedwast.. uhm, Planet.

So basically MA get 6 million USD from selling Calypso, and also 50% of any income, so the sky will (most likely) not fall just yet...
 
Dante said:
If I read it correctly and if the translation is near to correct, they didn't do that bad at all... of course there is loss but it's not big.
Click to expand...


Well, the good thing is that the depositing from the players are pretty much at the same level as in 2008, i was a bit worried it could have gone more.
 
Amara Taroon said:
As I understand it:

MindArk has signed a Letter of intent with another company to sell the platform Planet Calypso for 6 million USD.
Click to expand...

That could just be FPC buying themselves out.

A loss is still a loss but it does show that they're not making a game that the existing playerbase want to deposit as much into anymore.
 
billairboy said:
The most important and the biggest concern, the cash flow:

Cash flow -18 662 882 SEK
Cash and cash equivalents at beginning of year 31,820,980 SEK
Exchange rate changes on cash and cash equivalents -36 474 SEK
Cash and cash equivalents at end of year: 13 121 624 SEK
Click to expand...

So true :) That's why I find the (Google translation) of the statement below particularly disturbing:

"CEO in the spring [is] working to ensure funding of its [MA] activities for remainder of 2010"

MA appears to be largely financed through equity rather than debt, however, which is great news. Being illiquid is better than being insolvent :) They may need to tighten their belts a bit in 2010, but overall their business looks sound.
 
Amara Taroon said:
As I understand it:

MindArk has signed a Letter of intent with another company to sell the platform Planet Calypso for 6 million USD.

Part of the deal is that even if Planet Calypso is sold, MindArk will still get 50% of any income Calypso generates.

MindArk expect that their income from Calypso will increase significally when the new owner start to implement new features and also start advertising for our beloved pedwast.. uhm, Planet.

So basically MA get 6 million USD from selling Calypso, and also 50% of any income, so the sky will (most likely) not fall just yet...
Click to expand...

Yes, if the deal is completed they solve a lot of cash problems. I wonder who the buyer is.... and what about FPC? :scratch2:
 
Masta said:
So true :) That's why I find the (Google translation) of the statement below particularly disturbing:

"CEO in the spring [is] working to ensure funding of its [MA] activities for remainder of 2010"

MA appears to be largely financed through equity rather than debt, however, which is great news. Being illiquid is better than being insolvent :) They may need to tighten their belts a bit in 2010, but overall their business looks sound.
Click to expand...

Yeah it looks like they working hard to take in more partners, MA are slowly selling out their share of the profit (or loss) to other investors and planet parnters. In away they bring in more equity without actually issue any new shares.
 
i see the same as masta due to world wide crisis a small dip in the business model but the sky isnt falling

we just have to ride it out
 
billairboy said:
Well, the good thing is that the depositing from the players are pretty much at the same level as in 2008, i was a bit worried it could have gone more.
Click to expand...

SpikeBlack said:
A loss is still a loss but it does show that they're not making a game that the existing playerbase want to deposit as much into anymore.
Click to expand...

Unless the loss actually is because their expenses has gone up rather than that their income has gone down?


I still think that the biggest problem (for player retention) is that loot is so unbalanced (need fewer ATHs and HoFs, less big-loss hunts, more stable returns)

I would rather get 80% back 3 times in a row than getting 60% back once, 120% back next time, then 60% again... (as an example)
 
Nighthawk said:
Unless the loss actually is because their expenses has gone up rather than that their income has gone down?


I still think that the biggest problem (for player retention) is that loot is so unbalanced (need fewer ATHs and HoFs, less big-loss hunts, more stable returns)

I would rather get 80% back 3 times in a row than getting 60% back once, 120% back next time, then 60% again... (as an example)
Click to expand...


Yeah i agree, fewer ATH/HOF and bigger avarage everyday loot would benefit us all.
 
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