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  1. #1
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    Mindark Annual report 2018

    Mindark annual report is out there, that's quite interesting to see.
    https://www.mindark.com/investor-rel...indArk2017.pdf

    Too bad, there wasn't a state of the universe for the EU game , but that may explain it.

  2. #2
    Shit... Dont understant that language or the numbers, can you tell me what it said? Huge loses?

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    Quote Originally Posted by Darlas View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Shit... Dont understant that language or the numbers, can you tell me what it said? Huge loses?
    Just translate it in Google Translate
    "Scars mark the journey through life..."
    Starfinder XXI: Warp Transport Service (WTS) Calypso and Arkadia, Total kick arse SI 64000
    Buying: Umbranoid Paste Pot 1500Ped
    Buying: Earth Globe Lamp, 1500Ped.
    Celeste North Shop 13: Deep Space Supplies: Arkadian items for sale!
    Darrell "Dimebag" Lance Abbott (August 20, 1966 – December 8, 2004) R.I.P.
    Jeff Hanneman (January 31, 1964 – May 2, 2013) R.I.P.

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    Here is a rough translation. I skipped some sections, and put some sections in BOLD to show that's what they talked about, but honestly it was some bla bla

    The mobile gaming market is expected to increase from $ 51 billion in 2017 to 56
    billion USD in 2018 (Note 1). Due to this, MindArk has continued to
    Developed our new mobile gaming experience - ComPet Game. The game is available on several types of Mobile game platforms: Android, iOS and desktop PCs. This will open a new one
    customer group for processing. Even this game is free to download (F2P) and is based on
    Payment form IAP (In App Purchase). This was the start of MindArk in the mobile segment.
    MindArk wants to expand its product portfolio through ComPet Game and balance growth and risk between the PC platform and the ever-growing mobile platform.
    MindArk had an average of 44 employees during the year, six of whom were women. The company's CEO has been Henrik Nel Jerkrot since December 2017. Other leading
    The company's employees include Magnus Eriksson (Deputy CEO), Mats Kling (IT Manager), David Simmonds
    (business development manager), Jan Welter Timkrans (working chairman of the board) and Gunilla Krogh
    (CFO).
    The share is unlisted and the total number of shares is 157 623 125. Ownership:
    Shareholders Number of shares. Röstandel
    Jan Welter Timkrans 55 274 452 35.07%
    C-G Bothén AB 25 600 000 16.24%
    Other approximately 900 76 748 673 48.69%

    Loot 2.0
    Bla bla bla

    Compet
    After the launch in late 2016, data and experiences were collected from
    customers. With that knowledge, the company chose to make a greater contribution to development and the package of ComPet in order to relaunch the product in 2018.
    The revenue in ComPet Game has unfortunately not started as expected and has just been brought a fraction of budgeted revenue. However, the company has deliberately waited with someone larger marketing effort of the app as more development needs to be done before full launch. See more under costs.

    EU Pocket
    VR
    Changes in the balance sheet in 2017
    In the company's balance sheet there have been major changes in 2017. The company now has one Balance sheet total of SEK 94.7 million from balance sheet total of 59.1 MSEK at year-end 2016/2017.

    Entropia Platform and Entropia Universe are available since mid-year 2017
    intangible assets. At the end of the six months, these intangible assets had an estimated value of 52M. Since the end of 2014, Entropia Platform has not had any book value in MindArks
    balance sheet. Planet Calypso, which is part of Entropia Universe, had only 276 TSEK (per
    last June 2017) as book value in the balance sheet. Then the platform along with Entropia
    Universe has a large value-added value, the company has developed a value that gives a value
    the intangible asset of 52 MSEK. The valuation is made after careful consideration of provisions
    Raden Provisions under the heading Equity and liabilities consist of a provision calculated
    Deferred tax of SEK 10.9 million on the intangible asset described above and a provision
    for accrued player debt of SEK 29.5 million.
    Unused user information including the player debt from "Contingent Liability" to
    debt in the balance sheet Player debt, ie unused user shares, decreased during the fiscal year
    PED 109.7 million to PED 105.4 million, a decrease of 4.3 million PED. The total debt
    also decreased in SEK, but to a significantly higher extent, since the SEK / USD exchange rate has fallen from 9.10
    SEK / USD at last year to SEK 8.23 / USD last December 2017 (10 PED = 1 USD). The
    resulted in debt falling by 13.1 million in SEK, from 99.9 million SEK to 86.8
    million SEK. Player debt declined partly due to the fact that it was spending more PED than that
    New money was added and partly because of remaining, no funds spent on accounts
    Active since one year back, was reverted to revenue.
    The company has concluded that the entire actual player debt should be entered in the balance sheet,
    In the past, only the change in player debt has been recorded in the balance sheet. This results in
    that the player debt disappears as contingent liability. With it, it must be the real value of
    the debt is determined.
    The total amount "of users not yet consumed assets" is a variable amount as
    varies with the various activities of Entropia Universe. Historical figures show that 30-35%
    (commuted there between the last 15 years) of funds deposited by users. The rest
    have been consumed or retained on users' accounts in the form of inventory or cash in form of the virtual currency PED.
    However, it is a prerequisite for the survival of the Entropia Universe product MindArk pays
    out the required withdrawals and therefore the part of the player debt, which is likely to be a withdrawal,
    be expensed.
    With these facts in hand, the assessment was that the actual debt to be booked into
    The balance sheet is 33% of the player's debts at the time of the booking. The
    Total debt 2017-06-30 was 107.9 MPED, the price 0.847 SEK / PED, which gives 91.4 MSEK. This meant that the actual debt was SEK 30.2 million at the end of 2017 and was booked at it
    time in the balance sheet. At year-end 2017, the debt decreased to 29.5 MSEK.
    Operating profit before depreciation amounts to SEK 8.7 million (last year plus 9.1 million
    SEK). After net financial items, but before appropriations and taxes, the result amounts to minus 864,000
    SEK (last year plus SEK 10.7 million). The negative result is mainly due to the negative
    currency change on the provision for player debt. Read more under Note 4. Shareholders' equity in the companyat year-end amounted to SEK 37.1 million (last year SEK 38.8 million).
    Net sales 57 471 63 764 52 893 37 653 43 848
    Profit after depreciation 2,740 8,161 3,691 -3,518 -8,718
    Profit after financial items -864 10,745 4,002 -4,912 -8,889
    Net profit for the year 0 5,434 3,056 3,709 -9,371
    Balance sheet total 94 697 59 138 50 541 34 637 28 689
    Shareholders' equity 37,089 38,515 30,401 20,383 16,674

  5. #5
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    Side by side comparison of same page from last year versus this year to help out...



    IGN: Feng Huan SecretAznMan Zho

    Check out my stream! https://www.twitch.tv/lootdemon

  6. #6
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    The company has concluded that the entire actual player debt should be entered in the balance sheet,
    In the past, only the change in player debt has been recorded in the balance sheet. This results in
    that the player debt disappears as contingent liability. With it, it must be the real value of
    the debt is determined.
    Seems important.

  7. #7
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    "The company has concluded that the entire actual player debt should be entered in the balance sheet,
    In the past, only the change in player debt has been recorded in the balance sheet. This results in
    that the player debt disappears as contingent liability. With it, it must be the real value of
    the debt is determined."

    Hahahha...that new CEO must be finally some sober thinking guy. Also regards to ppl who mentioned that at ocasion of prevoius years anual statements, as being "creative accounting"

  8. #8
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    Compet
    After the launch in late 2016, data and experiences were collected from
    customers. With that knowledge, the company chose to make a greater contribution to development and the package of ComPet in order to relaunch the product in 2018.
    The revenue in ComPet Game has unfortunately not started as expected and has just been brought a fraction of budgeted revenue. However, the company has deliberately waited with someone larger marketing effort of the app as more development needs to be done before full launch. See more under costs.
    The English phrase for this is 'flogging a dead horse'

  9. #9
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    Quote Originally Posted by shoti View Post
    This quote is hidden because you are ignoring this member. Show Quote
    "The company has concluded that the entire actual player debt should be entered in the balance sheet,
    In the past, only the change in player debt has been recorded in the balance sheet. This results in
    that the player debt disappears as contingent liability. With it, it must be the real value of
    the debt is determined."

    Hahahha...that new CEO must be finally some sober thinking guy. Also regards to ppl who mentioned that at ocasion of prevoius years anual statements, as being "creative accounting"
    Isn't he also the Cryptocrapscam CEO?

    Overall those numbers look expectedly poor. Although can't really tell what part of those numbers was generated when.

    Possibly super numbers pre 2.0 and then steep drop or vice versa (yea sure)?

    Lag 2.0 certainly didn't help. Guess MA won't release quarterly figures to provide more insight.

    2018 numbers will probably be a better indicator to the public as to how well the changes from Swedish Center of Excellence have been received.

  10. #10
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    Full Translation

    Page 1

    Annual
    for
    Mindark PE AB (publ)

    556640-4769
    Fiscal year
    2017

    Mindark PE AB (publ)
    Org.no 556640-4769

    note references:
    1) https://www.superdataresearch.com/ma...ear-in-review/
    2) https://www.statista.com/statistics/...015-by-source/
    3) https://www.statista.com/topics/2290/mmo-gaming/

    The Board of Directors and the Managing Director of Mindark PE AB (publ) hereby issue annual reports for the fiscal year 2017.

    The annual accounts have been prepared in Swedish kronor (SEK).



    management Report

    Information about the business


    The company develops and operates Entropia Universe and Entropia Platform. Entropia Universe is one three-dimensional virtual universe of planets with different themes and activities. It is one the universe of entertainment, social community, investment and trade. Software Available worldwide and free of charge for anyone with internet access.

    Entropia Platform is the technology platform running Entropia Universe. The platform is shared with partners who develop their own unique game content.



    Market and competition

    The computer games industry is still one of the fastest growing segments in digital media. The industry's sales in 2017 landed at 108.4 billion USD and the forecast for 2018 is 144 billion USD (Note 1).

    MindArk is active with Entropia Universe in the Massively Multiplayer Online Games segment (MMOs). The segment sold more than USD 30 billion in 2017 and the forecast for 2018 is over 34 billion USD (note 2-3).

    MindArk is competing with several major global MMO manufacturers. The biggest online game in The western world is Blizzard's World of Warcraft, but there are also millions of players in many others game. The discussion that took place a few years ago that PC as a platform was about to decrease in importance has become ashamed. PC as a platform does not grow, but keeps one already strong position.

    Several trends indicate that the online games will continue to grow, as well as games for mobile devices. The mobile gaming market is expected to increase from $ 51 billion in 2017 to 56 billion USD in 2018 (Note 1). Due to this, MindArk has continued to Developed our new mobile gaming experience - ComPet Game. The game is available on several types of Mobile game platforms: Android, iOS and desktop PCs. This will open a new one customer group for processing. Even this game is free to download (F2P) and is based on Payment form IAP (In App Purchase). This was the start of MindArk in the mobile segment.

    MindArk wants to expand its product portfolio through ComPet Game and balance growth and risk between the PC platform and the ever-growing mobile platform.

    Mindark PE AB (publ)
    Org.no 556640-4769

    A feature of technology that is becoming more common in computer games is VR (Virtual Reality). MindArk has since 2015 developed VR technology to complement and improve the gaming experience of the company offers today.



    MindArk differentiation

    Factors that distinguish MindArk and Entropia Universe from their competitors are primarily the game's virtual economy with microtransactions and own currency PED which has a fixed value against USD, as well the opportunity for participants to both deposit and take out real money safely.

    A complementary differentiation is the planet partner model, that is, MindArk lets others companies build their own planets in Entropia Universe and MindArk shares their revenues plane partners.

    MindArk has more than 15 years experience in developing and operating virtual economy technologies interactive 3D environment on the internet. Today MindArk offers safe microtransactions for many Participants who interact in real time with each other online via PC. With Entropia Platform has MindArk a leading position in the world.

    MindArk and its subsidiaries

    MindArk is the parent company of a group with two subsidiaries. Parent Company and the two The subsidiaries, Entropia Universe AB and Planet Calypso AB are located in Gothenburg. Since January 1st In 2015, all activities from the Parent Company will be conducted.

    Planet Calypso AB operated and developed Planet Calypso, the first planet in Entropia Universe. Both operations and development are now carried out by the parent company. Subsidiary Entropia Universe AB handled previous major parts of customer support and operation of Entropia Universe. From May 2012 used the company primarily for marketing purposes.



    Coworker

    MindArk had an average of 44 employees during the year, six of whom were women.

    The company's CEO has been Henrik Nel Jerkrot since December 2017. Other leading The company's employees include Magnus Eriksson (Deputy CEO), Mats Kling (IT Manager), David Simmonds (business development manager), Jan Welter Timkrans (working chairman of the board) and Gunilla Krogh (CFO).



    shares

    The share is unlisted and the total number of shares is 157 623 125. Ownership:

    Shareholder Number of shares Voting rights
    Jan Welter Timkrans 55 274 452 35.07%
    CG Bothén AB 25 600 000 16.24%
    Others about 900 76 748 673 48.69%
    Overall 157 623 125 100%


    Important events during the fiscal year

    MindArk continued in 2017 to invest in the development and marketing of Entropia Universe. In parallel, the company has also continued with the development of ComPet Game, a brand new game for mobile phone, tablet and PC.

    Entropia Universe - Loot 2.0
    In 2017, MindArk released a series of updates to Entropia Universe, which we have briefly called Loot 2.0. With the updates, MindArk has aimed at fundamentally changing how looted hunting is calculated and distributed to achieve more flexible, balanced and rewarding system. The change has gradually led to this profound development of Entropia Universe and has significantly improved payroll repayment for the large amount of players (over 95%). Now that this foundation is created, opportunities will be opened to improve the experience for more Entropians who get more entertainment for the same cost, leading to a bigger total sales and profits for MindArk.

    ComPet Game
    After the launch in late 2016, data and experiences were collected from customers. With that knowledge, the company chose to make a greater contribution to development and the package of ComPet in order to relaunch the product in 2018.

    Entropia Pocket
    In late 2016, MindArk released the mobile app Entropia Pocket. A free mobile application like integrates a 2FA (two-factor authentication solution) to provide enhanced security for all participants in Entropia Universe. Entropia Pocket is a complement to the previously offered two-factor authentication solution "Gold Card" and the idea is to terminate this solution in the long run replace the "Gold Card" solution.

    By 2017, the app has been supplemented with a targeted newsflow that is relevant to our customers. Entropia Pocket also helps with learning the game, this through instructional films. During In the last quarter of 2016, the company saw a cautious transition from the existing "Gold Card" solution, in order to see a robust growth of users by 2017. Customers have now got both confidence in solution and see the benefits of getting targeted messages and relevant information as soon as it is done available.

    Social VR Experience Supported for Mobile Devices
    In 2017, MindArk has developed Business VR which is a B2B solution for virtual meetings, seminar and more. In May 2017, the company received its first contribution from Vinnova, Sweden innovation authority to produce this product. In total, 1.9 MSEK will be paid out to company for 1 year time. MindArks unique experience and knowledge from Massively Multiplayer Online Games (MMOs) have come true when the company developed Business VR, when we worked thousands of players online at the same time in a game environment for many years we have been able to utilize it knowledge and build on a B2B solution with many contemporary users in a virtual environment.

    The solution developed during the spring has been in operation in the project since the end of May. With help The company has thus been able to have meetings and communication between geographically scattered sites but in the same virtual location. Now we are working relationships with partners there Specific uses can be described and further put into use in the virtual environment that is now available front for desktop (Oculus Rift, HTC Vive and MacOS) as well as for mobile devices (Google DayDream and Samsung Gear VR 2017).



    New issue completed

    The rights issue issued by MindArk in December 2016 has in 2017 completed. The entire issue capital was in January 2017 at the company's bank account.


    Changes in the balance sheet in 2017

    In the company's balance sheet there have been major changes in 2017. The company now has one Balance sheet total of SEK 94.7 million from balance sheet total of 59.1 MSEK at year-end 2016/2017.

    Entropia Platform & Entropia Universe
    Entropia Platform and Entropia Universe are available since mid-year 2017 intangible assets. At the end of the six months, these intangible assets had an estimated value of 52 M. Since the end of 2014, Entropia Platform has not had any book value in MindArks balance sheet. Planet Calypso, which is part of Entropia Universe, had only 276 TSEK (per last June 2017) as book value in the balance sheet. Then the platform along with Entropia Universe has a large value-added value, the company has developed a value that gives a value the intangible asset of 52 MSEK. The valuation is made after careful consideration of future number of users and estimated costs. The company therefore decided to the platform together with Entropia Universe, should be entered in the company's balance sheet at the end of the year 2017 to the estimated amount. The valuation of the platform will be done each year to secure the correct value in the balance sheet of Entropia Universe.

    provisions
    Raden Provisions under the heading Equity and liabilities consist of a provision calculated Deferred tax of SEK 10.9 million on the intangible asset described above and a provision for accrued player debt of SEK 29.5 million. More about it in the next section.

    Unused user information including the player debt from "Contingent Liability" to debt in the balance sheet

    Player debt, ie unused user shares, decreased during the fiscal year PED 109.7 million to PED 105.4 million, a decrease of 4.3 million PED. The total debt also decreased in SEK, but to a significantly higher extent, since the SEK / USD exchange rate has fallen from 9.10 SEK / USD at last year to SEK 8.23 ​​/ USD last December 2017 (10 PED = 1 USD). The resulted in debt falling by 13.1 million in SEK, from 99.9 million SEK to 86.8 million SEK. Player debt declined partly due to the fact that it was spending more PED than that New money was added and partly because of remaining, no funds spent on accounts Active since one year back, was reverted to revenue.

    The company has concluded that the entire actual player debt should be entered in the balance sheet, In the past, only the change in player debt has been recorded in the balance sheet. This results in that the player debt disappears as contingent liability. With it, it must be the real value of the debt is determined.

    The total amount "of users not yet consumed assets" is a variable amount as varies with the various activities of Entropia Universe. Historical figures show that 30-35% (commuted there between the last 15 years) of funds deposited by users. The rest have been consumed or retained on users' accounts in the form of inventory or cash inform of the virtual currency PED.

    However, it is a prerequisite for the survival of the Entropia Universe product MindArk pays out the required withdrawals and therefore the part of the player debt, which is likely to be a withdrawal, be expensed.

    With these facts in hand, the assessment was that the actual debt to be booked into The balance sheet is 33% of the player's debts at the time of the booking. The Total debt 2017-06-30 was 107.9 MPED, the price 0.847 SEK / PED, which gives 91.4 MSEK. This meant that the actual debt was SEK 30.2 million at the end of 2017 and was booked at it time in the balance sheet. At year-end 2017, the debt decreased to 29.5 MSEK.

    Earnings and equity

    Net sales in the company amounted to SEK 57.5 million (last year SEK 63.8 million), one decrease by almost 10%. About 7.3 million SEK of net sales refers to inactive user accounts, ie user accounts that have not been used for at least one year. rEMAINING funds on these accounts have been booked away from the player debt to income. About inactive player accounts Excluding this year's net sales decrease is 8.5%.

    Net deposits in Entropia Universe in 2017 ended PED 63.9 million compared to 70.1 million PED in 2016. If settlements are made for deposits relating to financial purchases, such as purchases of land rights (Deeds), the figure for 2017 is 63 million PED versus 2016, which was 63.7 million PED. This means a reduction in net deposits of 1.1%.

    Same comparison based on revenue measure consumption within Entropia Universe exclusive Profits and bonuses show that revenues decreased by 11.5% from 74.6 million PED in 2016 to 66 million PED in 2017 (before deduction of VAT).

    Revenues did not reach the company's budget targets.
    The reason why the budget was not reached depends largely on Part of the fact that active customers have not used their funds to the extent budgeted. The company is working intensive to make the beginner experience more understandable so that users are more likely to come start spending money (spend money). Another reason is the difficulty of finding the right one customers, that is, just that type of player who appreciates Entropia Universe's complexity and also the possibilities of the game.

    The revenue in ComPet Game has unfortunately not started as expected and has just been brought a fraction of budgeted revenue. However, the company has deliberately waited with someone larger marketing effort of the app as more development needs to be done before full launch. See more under costs.

    Other income includes a one-time income from the Swedish Tax Agency for incorrect payment outgoing VAT on Calypso Land Deeds totaling SEK 3.9 million.

    The exchange rate between USD and SEK, which has a major impact on the company, has fallen at 8.53 SEK / USD at budget price 8.80 SEK / USD. This can be compared to the previous year's exchange rate which was 8.58 SEK / USD.

    Operating expenses amount to SEK 58.5 million (last year to SEK 63.5 million), which is one decrease of SEK 5 million. Most of the decrease is due to reduced marketing. The is also SEK 1.1 million lower than budgeted since ComPet's share has not been used. Though this is borne by increased costs of external development costs of just over SEK 1.6 million. The main reason for this is that ComPet has demanded a lot more resources software development company N-ix than expected.

    Operating profit before depreciation amounts to SEK 8.7 million (last year plus 9.1 million SEK).

    After net financial items, but before appropriations and taxes, the result amounts to minus 864,000 SEK (last year plus SEK 10.7 million). The negative result is mainly due to the negative currency change on the provision for player debt. Read more under Note 4. Shareholders' equity in the company at year-end amounted to SEK 37.1 million (last year SEK 38.8 million).



    Cash flow and financial position

    During the year, the company acquired tangible fixed assets for SEK 200,000. In addition, has SEK 3.9 million was commissioned for development work for Entropia Universe and Entropia Platform. The company's cash and cash equivalents have decreased somewhat during the fiscal year and amounted to 7.8 at year-end SEK million against SEK 9.5 million in the previous year.



    The Group in summary

    No consolidated financial statements are made for the financial year 2017 when no business has been carried out subsidiaries during the year.


    Listing of MindArks share

    The time of listing of the MindArk shares has not been established. When there is new information will it be published on the company's website.


    AGM
    Annual General Meeting 2017 was held on May 30 in the company's premises. In addition to the decision to determine the previous year accounts were proposed to elect two deputies to the board. The AGM decided to approve proposed. Magnus Eriksson and Gunilla Krogh were elected as deputies to the Board.

    Changes to the Board after the Annual General Meeting 2017
    Sven Sandberg has left the board of directors at the company's request on July 26, 2017. The company is therefore looking for after a suitable replacement.




    MindArk is one of the few Massively Multiplayer Online Game Companies that have built and built operated a dedicated and unique virtual platform from scratch. It gathered knowledge from several development cycles and expansions enable MindArk to implement new and engaging entertainment aspects and systems while maintaining a robust and functional business product in the market for over 15 years.

    Our team has experience and knowledge to efficiently and accurately evaluate leading game industry trends, hardware and software advances to customize the business and product according to the market conditions to ensure that Entropia Universe continues to be at the forefront virtual real-cash economy platforms.

    MindArk sees conviction for new technologies developed by our team, as well as by others innovators and companies in cooperation with us with the vision set to show the way to one more realistic and captivating virtual universe.

    The company is based in Gothenburg.



    Multiannual review (tkr) 2017 2016 2015 2014 2013
    Net sales 57 471 63 764 52 893 37 653 43 848
    Profit after depreciation 2 740 8 161 3,691 -3,518 -8 718
    Profit after financial items -864 10,745 4 002 -4 912 -8 898
    Net profit for the year 0 5,434 3,056 3 709 -9 371
    Total assets 94 697 59 138 50 541 34 637 28 689
    Equity 37 089 38,515 30 401 20 383 16 674
    Fixed assets 78 555 29 465 26 730 24 577 18 604

    For definitions of key ratios, see Accounting and Valuation Principles.

    Change in equity (SEK thousand) Share- Not registered bound premium Retained year Overall capital capital reserves fund results results Amount at the beginning of the year 1 433 2 680 4 347 29 079 -4 458 5,434 38,515 Disposition as decided by Annual General Meeting: 5,434 -5 434 0 Rights issue 143 -2 680 4,872 2 335 Estimated deferred tax -10 868 -10 868 Balancing intangible access 49 400 2 600 52 000 Effect of replacement of accounting policy -44,893 -44,893 Development Fund 2 797 -2 797 0 Profit for the year 0 0 Amount at year end 1 576 0 45,667 33 951 -44 114 0 37 089
    Page 9
    Mindark PE AB (publ) Org.no 556640-4769 9 (22) Income Statement Note 2017-01-01 -2017-12-31 2016-01-01 -2016-12-31 Net sales 57 471 490 63 764 476 Activated work for own account 3,863,957 2 120 135 Other operating income 5,887,042 6,696,479 67 212 489 72 581 090 Operating expenses Other external expenses -30,952,586 -35 674 773 personnel costs 1 -27,599,451 -27,845,983 Depreciation of tangible and intangible assets fixed assets -5 920 402 -899 296 -64 472 439 -64 420 052 Operating profit 2 740 050 8 161 038 Profit from financial items Profit from other securities and receivables which are fixed assets 2 -217,659 619 765 Other interest income and similar items 3 104 136 68 194 Interest expenses and similar income items 4 -3,286,209 2 183 602 Exchange rate differences -204 309 -287 460 -3 604 040 2 584 101 Profit after financial items -863 990 10,745,139 Allocations 1 760 840 -3 704 210 Profit before taxes 896 850 7,040,929 Tax on profit for the year -896 850 -1,607,157 Profit for the year 5 0 5,433,772
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    Mindark PE AB (publ) Org.no 556640-4769 10 (22) Balance sheet Note 2017-12-31 2016-12-31 ASSETS Fixed assets Intangible assets Planet Calypso and Planet Calypso Forum 6.7 295 873 443 810 ComPet Game 8 9,533,760 11 964 964 Entropia Platform and Entropia Universe 9 53 070 759 0 62 900 392 12,408,774 Tangible fixed assets Inventories and computers 10 1 331 932 1 679 067 Financial assets Shares in Group companies 11 4,910,000 4,910,000 Other long-term securities 12 743 320 688 320 Loan MindArk Group's Welfare Foundation 162 000 157 000 Deferred tax asset 4,481,593 5,378,443 Other long-term receivables 13 4 025 945 4 243 604 14 322 858 15 377 367 Total assets 78 555 182 29 465 208 Current assets Inventories, etc. 14 prepared goods and goods for sale 193 954 408 626 Advances to suppliers 26,226 160 332 220 180 568 958 Receivables Accounts receivable 2 285 976 3 142 752 Claims on payment intermediaries 15 1 945 085 1 353 203 Receivables from Group companies 82 512 88 245 Current tax assets 65,948 31 638 Other receivables 1 694 612 13 609 111 Prepayments and accrued income 2,074,609 1 414 056 8 148 742 19 639 005 Short-term investments Other short-term investments 11 691 0 Cash and bank balances 7,760,760 9 464 634 Total current assets 16,141,373 29 672 597 TOTAL OPTIONS 94 696 555 59 137 805
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    Mindark PE AB (publ) Org.no 556640-4769 11 (22) Balance sheet Note 2017-12-31 2016-12-31 EQUITY AND LIABILITIES Equity Bound equity Share capital 1 576 231 1 432 938 Unregistered share capital 0 2 680 195 Revaluation reserve 38 532 000 0 Statutory reserve 50 000 50 000 Development Fund 7,093,941 4,297,178 49 852 172 8,460,311 Unrestricted equity Premium fund 33 950 695 29 078 708 Balanced gain or loss -44,113,843 -4 457 602 Profit for the year 0 5,433,772 -12 763 148 30 054 878 Total equity 37 089 024 38 515 189 Untaxed reserves 1 943 370 3 704 210 provisions 16 Provisions for unused user parts 29 459 145 0 Estimated deferred tax 10 868 000 0 Total provisions 40 327 145 0 Long-term liabilities Other debts 102,540 184 734 Current liabilities Accounts payable 1 949 092 1 971 271 Liabilities to Group companies 3 907 044 3 908 294 Other debts 2,098,486 2 358 437 Accrued expenses and prepaid income 7,279,854 8,495,670 Total short-term liabilities 15 234 476 16 733 672 TOTAL EQUITY AND LIABILITIES 94 696 555 59 137 805
    Page 12
    Mindark PE AB (publ) Org.no 556640-4769 12 (22) notable Accounting and valuation principles General information The annual accounts have been prepared in accordance with the Annual Accounts Act and BFNAR 2012: 1 Annual Report and Consolidated Financial Statements (K3). The accounting principles are unchanged from the previous year. revenue recognition Revenue has been taken up to the fair value of what has been received or will be received and reported to the extent that it is likely that the economic benefits will be taken into account The company and revenue can be calculated reliably. Foreign currencies When currency hedging is not applied, monetary assets and liabilities in foreign currency are valued at closing date Transactions in foreign currency are translated according to the date of transaction spot. Currency hedging is not applied in the annual accounts. Accounting principles for individual balance sheet items Intangible assets The company reports internally generated intangible fixed assets according to activation model for ComPet Game and Entropia Universe including Entropia Platform. This means that all expenses related to the creation of an internally worked up Intangible fixed assets are capitalized and written down under the asset's estimated utilization period, provided that the criteria in BFNAR 2012: 1 are met. Fixed assets Intangible and tangible fixed assets are reported at cost less accumulated depreciation according to plan and any write-downs. Depreciation takes place linearly over the expected useful life in terms of material residual. The following depreciation rate is applied: Intangible assets Entropia Platform and Entropia Universe 10% Planet Calypso 20% Planet Calypso Forum 20% ComPet Game 20%
    Page 13
    Mindark PE AB (publ) Org.no 556640-4769 13 (22) Tangible fixed assets Realization gains and losses on disposal of a fixed asset are reported as Other operating income and other operating expenses . Property, plant and equipment are depreciated systematically over the asset's estimated assets useful life. When the depreciable amount of the assets is determined, account will be taken of where applicable fall the residual value of the asset. Linear depreciation method is used for all types of material assets. equipment 20% computers 20 - 33.33% component Breakdown Tangible fixed assets have been divided into components when the components are significant and when the components have significantly different useful lives. When a component in one Fixed assets are replaced, any remaining part of the old component is eliminated and the new component's acquisition value is capitalized. Expenses for ongoing repairs and maintenance is recognized as expenses. Financial instruments Financial instruments are valued based on the acquisition value. The instrument is reported in balance sheet when the company becomes a party to the instrument's contractual terms. Financial assets is removed from the balance sheet when the right to receive cash flow from the instrument has expired or transferred and the company has transferred virtually all risks and benefits that are associated with ownership. Financial liabilities are derecognised when the liabilities have been settled or otherwise terminated. Shares in subsidiaries Shares in subsidiaries are reported at cost less any impairment losses. The acquisition value includes the purchase price paid for the shares as well as acquisition costs. Any capital injection is added to the acquisition value when incurred. Other long-term securities Investments in securities acquired for the purpose of being held in the long term have been reported to their acquisition values. Every balance sheet date, an assessment of any impairment need is made. Short-term investments Securities acquired for the purpose of being held in the short term are initially reported to acquisition value and subsequent values ​​in accordance with the minimum value of the minimum value lowest of cost and market value. Equity Shareholders' equity is divided into restricted and free capital, in accordance with the Annual Accounts Act. Untaxed reserves Untaxed reserves are reported with gross amount in the balance sheet, including the deferred tax liability that is attributable to the reserves.
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    Mindark PE AB (publ) Org.no 556640-4769 14 (22) Trade receivables / current receivables Accounts receivable and current receivables are reported as current assets at the amount that is expected to be paid after deduction for individually assessed doubtful claims. Borrowing liabilities and trade payables Borrowing liabilities and trade payables are initially recognized at acquisition value after deduction transaction costs. Dividends the reported amount from the amount to be refunded At the maturity date, the difference is recognized as interest expense over the term of the loan assistance of the instrument's effective interest rate. By this, it corresponds to the maturity date the amount reported and the amount to be refunded. Settlement of financial receivables and financial liabilities A financial asset and a financial liability are offset and reported with a net amount in balance sheet only when there is legal right to set off and then a regulation with one Net amount is intended to occur or when a current disposal of the asset and the settlement of the debt is meant happen. Impairment testing of financial fixed assets At each balance sheet date, it is assessed whether there are indications of impairment of any of them financial fixed assets. Write-down occurs if the decline in value is estimated to be permanent and tested individually. All financial instruments are valued and reported on the basis of fair value in accordance with The rules in Chapter 12 of BFNAR 2012: 1 (K3). Leases Since the economic risks and benefits associated with the leased assets have transferred to the lessee, the agreement is classified as financial leasing. At first the reporting date is recognized in the balance sheet. Direct expenses incurred in When the company is included in finance leases, it is distributed over the entire lease term. At Subsequent reporting periods are allocated to the financial income attributable to the agreement, over the lease term so that an even return is obtained. inventories The inventory has been valued at the lower of its acquisition value and its net realizable value at the balance sheet date. Net realizable value refers to the estimated sales price of the goods with sales costs. The chosen valuation method means that stock in stock has considered. Income taxes Total tax consists of current tax and deferred tax. Taxes are reported in the income statement, except when the underlying transaction is reported directly to equity and associated Tax effects are reported in equity. Current tax Current tax refers to income tax for the current fiscal year and the part of the previous fiscal year income tax not yet reported. Current tax is calculated based on it tax rate applicable at the balance sheet date. Deferred tax Deferred tax is income tax relating to future financial years as a result of past events.
    Page 15
    Mindark PE AB (publ) Org.no 556640-4769 15 (22) Accounting is carried out in accordance with the balance sheet method. According to this method, postponed tax liabilities and deferred tax assets on temporary differences arising between book value and tax values ​​of assets and liabilities as well as for others tax deductions or deficits. Deferred tax assets are netted against deferred tax liabilities only if they can paid with a net amount. Deferred tax is calculated on the basis of the applicable tax rate on closing day. Effects of changes in current tax rates are recognized in the period the change is statutory. Deferred tax assets are reported as financial fixed assets and deferred tax liability as a provision. Uppskjuten skattefordran avseende underskottsavdrag eller andra framtida skattemässiga avdrag redovisas i den omfattning det är sannolikt att avdragen kan avräknas mot framtida skattemässiga överskott. På grund av sambandet mellan redovisning och beskattning särredovisas inte den uppskjutna skatteskulden som är hänförlig till obeskattade reserver. Ersättningar till anställda Ersättningar till anställda avser alla former av ersättningar som företaget lämnar till de anställda. Kortfristiga ersättningar utgörs av bland annat löner, betald semester, betald frånvaro, bonus och ersättning efter avslutad anställning (pension). Kortfristiga ersättningar redovisas som kostnad och en skuld då det finns en legal eller informell förpliktelse att betala ut en ersättning till följd av en tidigare händelse och en tillförlitlig uppskattning av beloppet kan göras. Ersättningar till anställda efter avslutad anställning I företaget finns endast avgiftsbestämda pensionsplaner. Som avgiftsbestämda planer klassificeras planer där fastställda avgifter betalas och det inte finns förpliktelser att betala något ytterligare, utöver dessa avgifter. Utgifter för avgiftsbestämda planer redovisas som en kostnad under den period de anställda utför de tjänster som ligger till grund för förpliktelsen. Koncernförhållanden Företaget är ett moderföretag, men med hänvisning till undantagsreglerna i årsredovisningslagen 7 kap 3§ upprättas ingen koncernredovisning.
    Page 16
    Mindark PE AB (publ) Org.nr 556640-4769 16 (22) Nyckeltalsdefinitioner Nettoomsättning Rörelsens huvudintäkter, fakturerade kostnader, sidointäkter samt intäktskorrigeringar. Resultat efter avskrivningar Resultat efter avskrivningar och jämförelsestörande poster, men före finansiella intäkter och kostnader. Resultat efter finansiella poster Resultat efter finansiella intäkter och kostnader, men före extraordinära intäkter och kostnader. Balansomslutning Företagets samlade tillgångar. Equity Företagets nettotillgångar, dvs skillnaden mellan tillgångar och skulder. Uppskattningar och bedömningar Upprättandet av bokslut och tillämpning av redovisningsprinciper, baseras ofta på ledningens bedömningar, uppskattningar och antaganden som anses vara rimliga vid den tidpunkt då bedömningen görs. Uppskattningar och bedömningar är baserade på historiska erfarenheter och ett antal andra faktorer, som under rådande omständigheter anses vara rimliga. Resultatet av dessa används för att bedöma de redovisade värdena på tillgångar och skulder, som inte annars can be seen clearly from other sources. The actual outcome may differ from these estimates and assessments. Estimates and assumptions are reviewed regularly. No significant sources of uncertainty in estimates and assumptions on the balance sheet date are assessed could pose a significant risk of a significant adjustment of the reported values ​​of assets and liabilities during the next fiscal year. Note 1 Average number of employees 2017 2016 the average number of employees 44 40 Note 2 Profit from other securities and receivables fixed assets 2017 2016 interest rates 241 354 229 793 Exchange rate differences -459 013 389 972 -217,659 619 765
    Page 17
    Mindark PE AB (publ) Org.no 556640-4769 17 (22) Note 3 Other interest income and similar income items 2017 2016 Other interest income 104 136 68 194 104 136 68 194 Note 4 Interest expenses and similar income items 2017 2016 Interest expense -2,026 -750 Exchange rate difference on change of player debt -3,284,183 2 184 352 -3,286,209 2 183 602 The reason for the large currency difference is that the company has made a currency adjustment plays debt. The price at the end of 2017 was SEK 9.1 / USD and at the end of 2017 the price was 8.23 SEK / USD. In the year-end 2016, the company received a positive foreign exchange item in profit of more than 2 MSEK, now, instead, a negative currency adjustment of 3.3 MSEK will be made. The reason is that the player debt has decreased during the fiscal year 2017, which means that a reduced rate affects the company negative. See more in Note 17 Contingent liabilities for the Player's Debt also unused user shares. Note 5 Proposed profit allocation The Board proposes to make available profit (SEK): 2017 2016 accumulated loss -44,113,843 -4 457 602 share premium 33 950 695 29 078 708 the win of the year 0 5,433,772 -10 163 148 30 054 878 be disposed of to be transferred on a new account - SEK 10 163 148.
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    Mindark PE AB (publ) Org.nr 556640-4769 18 (22) Not 6 Planet Calypso 2017-12-31 2016-12-31 Ingående anskaffningsvärden 551 263 551 263 Utgående ackumulerade anskaffningsvärden 551 263 551 263 Ingående avskrivningar -220 506 -110 253 Årets avskrivningar -110 253 -110 253 Utgående ackumulerade avskrivningar -330 759 -220 506 Utgående redovisat värde 220 504 330 757 Not 7 Planet Calypso Forum 2017-12-31 2016-12-31 Ingående anskaffningsvärden 188 421 188 421 Inköp 0 Utgående ackumulerade anskaffningsvärden 188 421 188 421 Ingående avskrivningar -75 368 -37 684 Årets avskrivningar -37 684 -37 684 Utgående ackumulerade avskrivningar -113 052 -75 368 Utgående redovisat värde 75 369 113 053 Not 8 ComPet Game Avser anskaffningsvärdet, aktiverade kostnader och balanserade utgifter för mobilapplikationen ComPet Game, som lanserades 2016 då även avskrivning av kostnader startade. Bolagets hemsida ingår även i siffrorna men är helt avskrivna. 2017-12-31 2016-12-31 Ingående anskaffningsvärden 12 738 359 8 368 348 Inköp 4 370 011 Utgående ackumulerade anskaffningsvärden 12 738 359 12 738 359 Ingående avskrivningar -773 395 -567 600 Årets avskrivningar -2 431 204 -205 795 Utgående ackumulerade avskrivningar -3 204 599 -773 395 Utgående redovisat värde 9 533 760 11 964 964
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    Mindark PE AB (publ) Org.nr 556640-4769 19 (22) Not 9 Entropia Platform och Entropia Universe 2017-12-31 2016-12-31 Anskaffningsvärde 55 863 957 0 Utgående ackumulerade anskaffningsvärden 55 863 957 0 Årets avskrivningar -2 793 198 0 Utgående ackumulerade avskrivningar -2 793 198 0 Utgående redovisat värde 53 070 759 0 Not 10 Inventarier och datorer 2017-12-31 2016-12-31 Ingående anskaffningsvärden 11 141 370 10 678 446 Purchase 200 928 462 924 Closing accumulated cost 11 342 298 11 141 370 Opening depreciation -9 462 303 -8,916,739 This year's depreciations -548 063 -545 564 Closing accumulated depreciation -10 010 366 -9 462 303 Closing carrying amount 1 331 932 1 679 067 Note 11 Specification interests in Group companies Name Capital- share Voting share Quantity units book value Planet Calypso AB (publ) 100% 100% 450 000 3,910,000 Entropia Universe AB 100% 100% 2 000 1 000 000 4,910,000 Org no SEAT Equity Results Planet Calypso AB (publ) 556766-6416 Gothenburg 3,912,241 -1 248 Entropia Universe AB 556767-3594 Gothenburg 1 000 016 -14
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    Mindark PE AB (publ) Org.no 556640-4769 20 (22) Note 12 Other long-term securities holdings Refers to shares in Rufoid AB and Manomotion AB. 2017-12-31 2016-12-31 Opening cost 688 320 188 320 Purchase 55 000 500 000 Closing accumulated cost 743 320 688 320 Closing carrying amount 743 320 688 320 Note 13 Other long-term receivables Refers to lending by agreement. 2017-12-31 2016-12-31 Opening cost 4 977 131 4,357,366 Capitalized interest rate 241 354 229 793 currency Change -459 013 389 972 Closing accumulated cost 4 759 472 4 977 131 Initial value adjustment -733 527 revaluation -733 527 Closing accumulated write-downs -733 527 -733 527 Closing carrying amount 4 025 945 4 243 604 Note 14 Inventories Inventory of gold card and gold card reader for secure login in Entropia Universe has as a whole, expensed during the fiscal year. This in order to basically all users have passed to the new secure logon solution called Entropia Pocket. Inventory now consists Only of profile products sold via a webshop on the company's website. Note 15 Claims on payment intermediaries Under the heading Receivables Payment Brokers, outstanding claims are reported on the payment broker with which the company cooperates. The balance contains of payment intermediaries confirmed but not yet received by the company on balance sheet date.
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    Mindark PE AB (publ) Org.no 556640-4769 21 (22) Note 16 Provisions 2017-12-31 2016-12-31 Deferred tax liability This year's disposal 11 440 000 Amount recovered during the year -572 000 10 868 000 Provisions for unused user parts This year's disposal 29 459 145 29 459 145 Unused User Guide: Player debt, ie unused user shares, decreased during the fiscal year PED 109.7 million to PED 105.4 million, a decrease of 4.3 million PED. The total debt also decreased in SEK, but to a significantly higher extent, since the SEK / USD exchange rate has fallen from 9.10 SEK / USD at last year to SEK 8.23 ​​/ USD last December 2017 (10 PED = 1 USD). The resulted in debt falling by 13.1 million in SEK, from 99.9 million SEK to 86.8 million SEK. Note 17 Contingent liabilities Unused User Guide: Player debt, ie unused user shares, decreased during the fiscal year PED 109.7 million to PED 105.4 million, a decrease of 4.3 million PED. The total debt also decreased in SEK, but to a significantly higher extent, since the SEK / USD exchange rate has fallen from 9.10 SEK / USD at last year to SEK 8.23 ​​/ USD last December 2017 (10 PED = 1 USD). The resulted in debt falling by 13.1 million in SEK, from 99.9 million SEK to 86.8 million SEK. Since the mid-year 2017, the real part of the player debt is debited in the balance sheet below Headline Provisions. The actual debt is estimated to be approximately 33% of the actual player debt. For more information, see the section Contingent liabilities in the Directors' Report. It makes it There are no contingent liabilities in the current year. 2017-12-31 2016-12-31 contingent 0 99 854 723 0 99 854 723
    Last edited by Venture Bros; 06-03-2018 at 13:29.

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