found the article
though the article on next islend saying they think to go online in march is gone as the whole site is changed and i can onlu view trailer video's
\
December 18, 2008
MindArk Expanding Platform In Spite of Recession; Plans for IPO Delayed
In the face of a recession that has many companies in the virtual worlds space making cuts to save costs, MindArk is staffing up to finish rolling out the update to its virtual world, Entropia. In July 2007, the company announced that it had adopted CryEngine 2. The system was meant to go live late this year, but due to the complicated nature of integrating it with Entropia's economic system, MindArk is now aiming for Q2 2009. Once the new engine is in place, other partners will launch their own planets, using Entropia as the platform. That, along with a better financial climate, will enable MindArk to move towards its IPO, orignally announced a year ago.
"Obviously we’ve consulted with Credit Suisse and this isn’t a good time to go with an IPO. There are also a few things we need to do first," explained Business Development Director David Simmonds. "One is we need to get the CryEngine working and out there so our customers can use it. That’ll determine it, but also the economic climate. That’s why we’re taking on more people and all of our resources are going towards the implementation of the CryEngine. Over the last year, very little game development has gone on inside of Entropia. The majority has gone towards the work that people can’t quite see at the moment."
The launch of CryEngine 2 in Entropia will also bring new business to the company. MindArk has already announed partnerships with SEE Touring to create planets based on Hollywood licenses, Creative Kingdom to launch a media center, the Chinese government to develop a whole virtual infrastructure, and more.
Of the currently planned five partners, Simmonds expects Creative Kingdom, the Chinese government, and a third, unnanounced partner to be ready to launch when CryEngine 2 is in place. The others will be coming down the line, and Simmonds says he is also in talks with 7-8 other companies, ranging from the smallest to worldwide brands.
Some have wondered what became of the Chinese plans for Entropia, which were initially meant to go live over the summer, were pushed back to this fall, and haven't been heard from since. Simmonds said the project suffered a blow when Chief Scientist Robert Lai passed away this summer and was set back approximately six months, but that it's now back on track.
"They can’t go live with the product until we’re finished with [the CryEngine update]. Whatever they do, they have to wait until we have our CryEngine in Entropia finished. Then they have amazing big, new plans, but just that starting planet can’t open up until we open up," said Simmonds.
Once those partners do come in world, the hope is that they'll bring new users and profits. Each will operate on a profit-sharing scheme that allows MindArk and the partner to monetize users wherever they are. MindArk, which makes its money on virtual goods as they deteriorate in value, will give a percentage of that profit to the partner that first brings a user in.
So while a user may come in for a Hollywood movie experience "powered by Entropia" and remain in SEE's worlds, they can also explore other partner's territories or Entropia's own Calypso world. That should bring a boost in revenue--and a more attractive IPO.
Simmonds says that while the platform approach has long been a plan, MindArk is still profitable, and looking for new talent, on its own.
"The whole concept is we really wanted to make it into a platform. People get one game, and they get bored. They want change. Here they’re going through space and can take their avatars, their skills, and the majority of their equipment to a planet that’s created by a completely different developer and so will have a very different feel," he explained. "We’re still making Calypso, which we have today. We’re still a profitable company and building and growing in these tough economic times."
http://www.virtualworldsnews.com/20...spite-of-recession-plans-for-ipo-delayed.html
or is
Q2 = second quarter
id say
2Q = second quarter
i think its meaning 2 2009
as Q and 2 are next each other on keyboard aswell (typo)
i dont think they would short the word quarter in this article as there would not be a reason to do so
