Annual Financial Report 2011

Stave

Deactivated Account
Joined
Nov 20, 2007
Posts
3,106
But it's also clear that they must make more effort to increase the player base, more important this year and in the future when a bigger part of the player base will play on other planets than Calypso, because MA gets a smaller share of the income when we play on other planets that MA don't own.
The whole idea of planet partners was that they find their own players, so if that works out, it should only be an advantage for ma and eu
 

Centech

Elite
Joined
May 30, 2006
Posts
4,804
Location
Desolation Row
Society
BAHQ4LIFE!!!
Avatar Name
Jason Centech Tanner
Every year returns get lower, and MA loses more money.. I'd really like to see the proof that they have all the money from player assets in an account somewhere. I get the feeling fort knox is empty.
 

Nor Alien

Elite
Joined
Feb 21, 2008
Posts
4,125
Location
Completely and utterly lost..
Society
The Gathering
Avatar Name
Nor Alien Euqcab
Sounded to me like you could craft and use auction while on the go, if so i would imagine chat on some level would be added to it too, no reason not to and erriksons part of it all supports such things, and the guy from errikson is apparently leading the development of the apps, should be intresting to see what they come up with.

Assuming if so, can only use auction where your avatar is currently located
Sweet.. :yay: This may appeal to a lot of the on the go players or hand held device people! :)
 

Talania

Stalker
Joined
Dec 10, 2008
Posts
2,353
Location
MN, USA
Society
Mediaeval Wicca
Avatar Name
Talania Tal Indigo
Planet Calypso back in AR Universe Ltd
In December 2010, signed AR Universe AB and SEE Digital Studios Ltd a contract for
transfer of the assets of AR Universe Ltd, under the name First Planet Company AB.
The purchase price was six million. SEE Digital Studios AB paid to the first six
installments of one million dollars in connection with the agreement signed, in accordance with
agreed payment plan.
However, did not show the second installment in the SEE Digital Studios Ltd would have paid in January
2011th While other agreed payments failed to materialize. Therefore, the agreement was terminated in May 2011.
The main rule in Swedish law if termination is that the title to the subject of the claim
agreement reverts to the original owner, ie the AR Universe AB. Because of the now substantially
specified conditions have been the planet Calypso, which was included in the contract, be included as assets in
consolidated balance sheet, pending the outcome of the ongoing arbitration. Once reservation has occurred without prejudge or reserve for the company's future citations and
process documents in the pending arbitration.
Arbitration has been demanded by the SEE Digital Studios Ltd who have pleaded against
Company and its wholly owned subsidiaries AR Universe AB, Stockholm Chamber of Commerce
arbitral institutions.
The Board believes that the requirements of the SEE Digital Studios are unfounded, but would
emphasize that the outcome of civil litigation in which several disputed circumstances, and where both oral and written evidence must be assessed and evaluated, are not clear.

Virtual land rights
In 2011 introduced virtual country cuisine at Calypso. Calypso land rights enables
avatars to become a citizen on the planet Calypso and get some of the planet's revenue. In addition,
every country has the right to give holders the right to vote in a new political system planned for development
in 2012 and the introduction 2013th Participants with land rights will thus be able to influence the
future development of Planet Calypso.
Pending arbitration doesn't sound very good to me.:eek:

From what I understand Planet Partners don't own the planet, just the name and development and they get a share of the planets revenue and a portion of the revenue generated by avatars that started on the planet.
The only thing I can think of that would be in arbitration is the million SEE paid MA and the revenue from Calypso.

Did MA have the right to sell land deeds that pay players planet revenue while the arbitration is on going? Or is the arbitration already over?:scratch2:

Was the 6 million from the CLD sales for paying their legal costs regarding the arbitration?
 

Few Scars

Marauder
Joined
Aug 18, 2009
Posts
7,287
Location
Arkadia
Society
Freelancer
Avatar Name
Bjorn Bjorn Longstaff
Interesting read. Good to see deposits are up Q1 2012. Over all I would applaude the MA executive for keeping the company afloat in such difficult world economic times.

The mobile apps will be welcome. Being able to log into the auction an make bids will make life a lot easier!
I also expect they will do away with the outdated security key card and use an app that generates a code linked to your account improving security. If banks these days are using secure mobile apps, then it won't be difficult for MA to do the same. I think RIFT (TRION Worlds) has a mobile authenticator.

I think one vital aspect they need to address with cash flow is non-depositing vs depositing players. There should be benefits for depositing and supporting the game.

Cheers
Bjorn
 

ZAN ZAN

Prowler
Joined
Feb 1, 2006
Posts
1,112
Location
Latvia
Society
none
Woah, players hold unconsumed assets worth approx 90.2 M PED

30 Million PED witdrawn last financial year.
 

Norm

Provider
Joined
Dec 13, 2006
Posts
164
Society
Freelancer
Avatar Name
Norman Norm Moon
As long as cash flow is positive, there's always room to work on the rest
 

Ludvig|MindArk

MindArk Official
Staff member
MindArk Official
Moderator
Joined
Feb 10, 2006
Posts
15,569
Location
Sweden
Avatar Name
Formerly "Foeburner Nighthawk Delta"
What NH? what do you mean they don't? 50% of PP income is for MA
Yes, and they get 50% from Calypso as well.

The remaining half is split between Calypso development and CLD holders.



Calypso split: 50% to MA, 25% to PP (AR Universe), 25% to CLD holders.
Other planet: 50% to MA, 50% to PP.

No difference in MA share percent.
 

remontoire

Marauder
Joined
Feb 10, 2010
Posts
6,495
Society
Bravo Three-Nil
Avatar Name
John itwasntme Remontoire
Every year returns get lower, and MA loses more money.. I'd really like to see the proof that they have all the money from player assets in an account somewhere. I get the feeling fort knox is empty.
They don't and you can read that in the report.
 

ZAN ZAN

Prowler
Joined
Feb 1, 2006
Posts
1,112
Location
Latvia
Society
none
Did you seriously believe that they have all PED backed by real $ somewhere, or are you just trolling?

Every year returns get lower, and MA loses more money.. I'd really like to see the proof that they have all the money from player assets in an account somewhere. I get the feeling fort knox is empty.
 

remontoire

Marauder
Joined
Feb 10, 2010
Posts
6,495
Society
Bravo Three-Nil
Avatar Name
John itwasntme Remontoire
Woah, players hold unconsumed assets worth approx 90.2 M PED

30 Million PED witdrawn last financial year.
Players had TT value worth 90 million ped. Deposits were 60 million and withdrawals were 29 million ped. However, the held player funds decreased by 5.2 million ped. So 60 - ( 29 + 5.2 ) = 25.8 million peds of TT value were lost or converted to markup over what was withdrawn. This is about 2 Million peds / month (or $200K / month).

Or looking at it from other side, 23.8 million ped of markup was withdrawn. Given total deposits of 60 million, we pay on average almost 40 pec of markup on every ped we deposit. I think this is rather too much.
 

Cly

Dominant
Joined
Jun 24, 2006
Posts
427
Location
Near Manchester, UK
Society
Darksteel Enterprises
Avatar Name
Clytemnestra Darksteel
I think you might be wrong here...

Players had TT value worth 90 million ped. Deposits were 60 million and withdrawals were 29 million ped. However, the held player funds decreased by 5.2 million ped. So 60 - ( 29 + 5.2 ) = 25.8 million peds of TT value were lost or converted to markup over what was withdrawn. This is about 2 Million peds / month (or $200K / month).

Or looking at it from other side, 23.8 million ped of markup was withdrawn. Given total deposits of 60 million, we pay on average almost 40 pec of markup on every ped we deposit. I think this is rather too much.
... MindArk's EULA states that if you cash out your account tomorrow (or you get a life ban or something and demand your money back) that their liability amounts to the PED Value of items in your inventory Plus the balance on your PED card.

There is no equation for markup.

So I believe their balance sheet is saying that people have cleared storage a little and that the PED value of items held in inventories has dropped in the period, that is all.

IE: more people have cleared out storage and sold up or TT'd trash for peds and then spent those PEDs etc.

That seems to me to be "expected" given the launches of Arkadia and Cyrene etc - loads of people cleared things out when assessing what they wanted to move between planets and went to spend PEDs on the new worlds.
 

remontoire

Marauder
Joined
Feb 10, 2010
Posts
6,495
Society
Bravo Three-Nil
Avatar Name
John itwasntme Remontoire
... MindArk's EULA states that if you cash out your account tomorrow (or you get a life ban or something and demand your money back) that their liability amounts to the PED Value of items in your inventory Plus the balance on your PED card.
We have a number of quantities - how much ped players had at the beginning of the year, how much ped they had at the end, how much was deposited and how much was withdrawn. Amount withdrawn minus the drop in player peds is the smallest amount that could have come from markup. Because anything else would have shown up as increased held funds.

"Mindark liability" does not in any way apply to what you can do when you cash out.
 

thoreau

Elite
Joined
Apr 8, 2005
Posts
3,894
Location
Calypso
Avatar Name
Hiro Protagonist
... MindArk's EULA states that if you cash out your account tomorrow (or you get a life ban or something and demand your money back) that their liability amounts to the PED Value of items in your inventory Plus the balance on your PED card.
Section 6 of the EULA states:


MindArk reserves the right to interrupt the services available via Entropia Universe and/or the operation of the Entropia Universe System with or without prior notice and for any reason. You agree that MindArk will not be liable for any loss or damage caused by interruption of the Entropia Universe, delay or failure to perform.

MINDARK'S LIABILITY TOWARDS ANY PARTICIPANT SHALL, IF ACKNOWLEDGED, IN EACH INCIDENCE BE LIMITED TO NO MORE THAN THE TOTAL AMOUNT TRANSFERRED INTO THE INVOLVED ACCOUNT BY SAID PARTICIPANT UNDER THE SIX MONTHS PERIOD PRIOR TO THE INCIDENT.​

Unless I'm wrong, their liability has nothing to do with PED value of anything you have in your inventory or on your PED card. It's strictly tied to whatever (if any) you've deposited in the past 6 months.
 

Futurama

Elite
Joined
Mar 11, 2006
Posts
3,677
Location
56°58′N 24°8′E
Society
Freelance
Avatar Name
mike Futurama anderson
Section 6 of the EULA states:


MindArk reserves the right to interrupt the services available via Entropia Universe and/or the operation of the Entropia Universe System with or without prior notice and for any reason. You agree that MindArk will not be liable for any loss or damage caused by interruption of the Entropia Universe, delay or failure to perform.

MINDARK'S LIABILITY TOWARDS ANY PARTICIPANT SHALL, IF ACKNOWLEDGED, IN EACH INCIDENCE BE LIMITED TO NO MORE THAN THE TOTAL AMOUNT TRANSFERRED INTO THE INVOLVED ACCOUNT BY SAID PARTICIPANT UNDER THE SIX MONTHS PERIOD PRIOR TO THE INCIDENT.​

Unless I'm wrong, their liability has nothing to do with PED value of anything you have in your inventory or on your PED card. It's strictly tied to whatever (if any) you've deposited in the past 6 months.
Yup, they changed this long time ago to just last 6 months of deposits.
 

McCormick

Deactivated Account
Joined
May 4, 2005
Posts
6,123
Society
La Faction Beta -LFB-
2005: Steve Shannon from General Motors joins the Board



MindArk, the Internet experience company, today announced that Steve Shannon has been appointed to its supervisory board. The appointment of an American marketing expert to the board coincides with the launch of Project Entropia, the first real online universe.

Steve Shannon, Executive Director of Marketing Services for GM North America, adds much needed mass marketing expertise, says Benny Iggland, chairman of the board. "Steve has proven that he understands how complex products can be marketed to millions of potential users around the world. This is essential for the launch of our online real universe."



2011: Michael Zolotas from Deutsche Bank (England) joins the board.



Yeah, he joined the board in Sept. 2011 and left in May 2012. Failed in probation period ? ;p

Gosh, he even was/is an adviser for the Central Bank of Nigeria in/since 2009. :'D

http://www.scribd.com/doc/22523544/...orms-Appointment-of-Advisors-November-13-2009





2012: Klas Moreau from (Sony) Ericsson.

In May 2012 recruited MindArk Klas Moreau as Technical Director. It is a newly created position
with focus on special technology projects, including developing apps for mobile devices. Klas
Moreau is from the position as Head of Business Unit Command, Control and
Applications at Ericsson.

His goals for 2013: Double the amount of users in Entropia...

http://www.bankkaufmann.com/meldung-395333.html



For further infos about 1st Planet Company Traction PR...uhm MA Terpin...bah...just call :

MindArk Media
David Tractenberg
+1-310-453-2050 x111
david@tractionpr.com[mailto:david@tractionpr.com]


I can only imagine Jan Welter Timkrans and Benny Iggland beeing...



 

Dr.D.C.

Elite
Joined
Jun 22, 2008
Posts
4,640
Location
Florida
Society
Glory Hound Irregulars
i just don t understand why the people in MA is so arrogant to not consider, and probably don t even read, the wishlist subforums. There are so many idea how there to how to improve the game, the base players etcetc
But probably they are happy in this way.
DC
 

chevrons

Stalker
Joined
Nov 25, 2006
Posts
1,505
Location
London, England
Society
Sanctuary
Avatar Name
Givendale Chevrons Skelton
Section 6 of the EULA states:


MINDARK'S LIABILITY TOWARDS ANY PARTICIPANT SHALL, IF ACKNOWLEDGED, IN EACH INCIDENCE BE LIMITED TO NO MORE THAN THE TOTAL AMOUNT TRANSFERRED INTO THE INVOLVED ACCOUNT BY SAID PARTICIPANT UNDER THE SIX MONTHS PERIOD PRIOR TO THE INCIDENT.​

Unless I'm wrong, their liability has nothing to do with PED value of anything you have in your inventory or on your PED card. It's strictly tied to whatever (if any) you've deposited in the past 6 months.
Yes, I'm afraid you're wrong; this 6 months is a legal backstop, and not applicable in any normal circumstance.

If MA go bust, you get nothing.

If MA close EU down, you may still get nothing, as you don't own anything in EU, and I've highlighted the operative words in the clause.

As long as EU continues, MA pay out your Ped balance, but this is merely to maintain confidence; they have no legal obligation to do so.

The limitation of liability of 6 months is intended to apply should anyone ever sue MA over some matter. However, it may or may not be accepted by a court.
 

SpikeBlack

Elite
Joined
Jun 22, 2006
Posts
4,987
Location
U.K.
Society
Entropia Directory
Avatar Name
Spike Spike Black
i just don t understand why the people in MA is so arrogant to not consider, and probably don t even read, the wishlist subforums. There are so many idea how there to how to improve the game, the base players etcetc
But probably they are happy in this way.
DC
I think they're beginning to now, a bit late in the day though.
 

billairboy

Elite
Joined
Mar 25, 2007
Posts
3,119
Location
Örnsköldsvik, Sweden
Avatar Name
Bill Airboy Ivanhoe
Yes, and they get 50% from Calypso as well.

The remaining half is split between Calypso development and CLD holders.



Calypso split: 50% to MA, 25% to PP (AR Universe), 25% to CLD holders.
Other planet: 50% to MA, 50% to PP.

No difference in MA share percent.
Well what i mean is that because MA owns AR Universe they indirectly get the profit from Calypso also, so they will earn less when we are playing on other planets.
 

Wollongong

Elite
Joined
Mar 7, 2006
Posts
4,665
Location
Calypso
Society
Odysseus Unbound
Avatar Name
Jerry "Wollo" Wollongong
Some stuff I gather from google translate:

a neg cash flow of 12M SEK, but positive investment gains, making the overall cash flow positive. Wow, this is like enron: derivates make more cash than the core product (page 7)

Also, they lowered operating costs, which is good.Nett deposits in jan'12 is about +60% compared to jan '11 (CLD anyone?) Ah, indeed... if you get the sales of CLD in, the nett deposit is minus 16%, allthough, indeed...many CLD were bought with money already in game. About 1,1 M SEK

What else... a 23.6 SEK loss (ouch) But guess what, they are actually paying out profits of earlier years, about 40 M
 

Ludvig|MindArk

MindArk Official
Staff member
MindArk Official
Moderator
Joined
Feb 10, 2006
Posts
15,569
Location
Sweden
Avatar Name
Formerly "Foeburner Nighthawk Delta"
Well what i mean is that because MA owns AR Universe they indirectly get the profit from Calypso also, so they will earn less when we are playing on other planets.
Not really since they will still have to pay for development of Calypso... and we dont know if they move money from AR to MA (only if they do that MA would earn more).
 

Centech

Elite
Joined
May 30, 2006
Posts
4,804
Location
Desolation Row
Society
BAHQ4LIFE!!!
Avatar Name
Jason Centech Tanner
Did you seriously believe that they have all PED backed by real $ somewhere, or are you just trolling?
No trolling at all. Shouldn't they? What happens if everyone withdraws tomorrow? If they just rely on new depos to pay out old withdrawals, thats a ponzi scheme. See Bernie Maddoff and Full Tilt Poker.
 

Harmony.

Stalker
Joined
Feb 25, 2006
Posts
2,178
Location
Over on the dark side
Society
Rangers
Avatar Name
Harmony Bella Simpson
No trolling at all. Shouldn't they? What happens if everyone withdraws tomorrow? If they just rely on new depos to pay out old withdrawals, thats a ponzi scheme. See Bernie Maddoff and Full Tilt Poker.
Lol you realize that your real life bank doesn't have enough money to give to you when everyone withdraws their bank account don't you?
 

billairboy

Elite
Joined
Mar 25, 2007
Posts
3,119
Location
Örnsköldsvik, Sweden
Avatar Name
Bill Airboy Ivanhoe
Not really since they will still have to pay for development of Calypso... and we dont know if they move money from AR to MA (only if they do that MA would earn more).
In financial statment for the whole Group the earning of AR are included. So, if more player are spending their money on the other planets instead of Calypso they will earn less money, because they still have the cost to develop Calypso. If they had not owned AR/Calypso, it would not matter.
 

Talania

Stalker
Joined
Dec 10, 2008
Posts
2,353
Location
MN, USA
Society
Mediaeval Wicca
Avatar Name
Talania Tal Indigo
Pending arbitration doesn't sound very good to me.:eek:

From what I understand Planet Partners don't own the planet, just the name and development and they get a share of the planets revenue and a portion of the revenue generated by avatars that started on the planet.
The only thing I can think of that would be in arbitration is the million SEE paid MA and the revenue from Calypso.

Did MA have the right to sell land deeds that pay players planet revenue while the arbitration is on going? Or is the arbitration already over?:scratch2:

Was the 6 million from the CLD sales for paying their legal costs regarding the arbitration?
No one even read my post?:scratch2:

https://www.planetcalypsoforum.com/forums/showthread.php?228644-Annual-Financial-Report-2011&p=2955688&viewfull=1#post2955688
 

billairboy

Elite
Joined
Mar 25, 2007
Posts
3,119
Location
Örnsköldsvik, Sweden
Avatar Name
Bill Airboy Ivanhoe
Some stuff I gather from google translate:

a neg cash flow of 12M SEK, but positive investment gains, making the overall cash flow positive. Wow, this is like enron: derivates make more cash than the core product (page 7)
It's money they have transferred from the subsidiaries, the biggest part probably from AR that owns Calypso. So the biggest part of this 12M are the Calypso planet partner share of the revenue that are transferred back to the MA mother company.
 
Top