News: Information regarding Withdrawals

[Sulje]

if you mean that Q2 is a total disaster company is loosing all progress made, the cut of workforce lead nowhere... well maybe but it is not yet public....
and Q2 will close in 4 days so.. it is the future

MA CEO words:
The strong finish that MindArk had during the last quarter of 2022 has continued into Q1 2023. The first quarter of 2023 is the best Q1 in MindArk’s 20-year history in terms of revenue, marking the third consecutive year of record revenue for Q1.

CONCERNING WITHDRAWALS:
Historical figures show that 27-35% of funds deposited
and reserves are set to 33% ...
so there is no shortage at all for the cashing-out players.

i missed a number... TOTAL value of avatars in game in TT terms is 136.600.000 PED, the rest of deposits is decayed or transformed into skill value

There isn't shortage in case same level of deposits are pouring in, what if they stop for a month or two ?

 

[Igorl]

• Provision for unspent user funds 47.4 MS
THESE ARE RESERVES TO FULFILL WITHDRAWAL REQUESTS.... so... an instant request of 4.500.000 USD can be paid from MA without any problem
one of the TOP players has posted once a total value of his storage of 1m ped....

https://www.mindark.com/investor-relations/financial-reports/documents/2023/MindArk_Annual_Report_2022.pdf

Page 9:

However, it is a prerequisite for the continuation of Entropia Universe that MindArk pays out
requested withdrawals and therefore the portion of the unspent user funds which is likely to be
withdrawn, should be indebted.
With these facts in hand, the real debt is estimated to be 33% of the unconsumed user holdings
available at the time of booking. This means that the real debt at the end of December is 45.1
million PED, equivalent to SEK 47.1 million SEK.

Its not CASH they can pay out immediately as you say.
Its a 0 intrest debt in their books

They can pay out their CASH position immediately. Which is around 2.5M US$ right now.

And this is obvious from their 10k, take o look at their cash and cash equivalents. If they had CASH to pay out for that "reserve" it would need to be stated in there. And it isnt. Easy peasy. GAAP is a bitch, no?

I.

 

[Igorl]

There isn't shortage in case same level of deposits are pouring in, what if they stop for a month or two ?

They have always found a way to make ppl deposit more and WD less.

They can make a new For Medusa and auction it off. They can make a new mall, bank, something and plop it somewhere. They can make a new 300 DPS 99% eff gun which needs 10000000 mayhem points and some unicorn pubic hairs to get and make "special gun mayhem". Etc etc. And their 2 month WD period makes them resisent to bank runs. When you have 2 day WD policy and someone doesnt receive money in 3 days - its game over. When you say - youll have your money in ~3 mths and done receive it on day 91 - noone bats an eye.

And there you have it. TWEN is currently doing its job getting revenue (deposits). Which can fun withdrawals perfectly fine. Next year itll be something new.

I get your concerns. They cant repay their debt immediately, but which company can. I wouldnt worry too much at current point.

I.

 

[Sulje]

They have always found a way to make ppl deposit more and WD less.

They can make a new For Medusa and auction it off. They can make a new mall, bank, something and plop it somewhere. They can make a new 300 DPS 99% eff gun which needs 10000000 mayhem points and some unicorn pubic hairs to get and make "special gun mayhem". Etc etc. And their 2 month WD period makes them resisent to bank runs. When you have 2 day WD policy and someone doesnt receive money in 3 days - its game over. When you say - youll have your money in ~3 mths and done receive it on day 91 - noone bats an eye.

And there you have it. TWEN is currently doing its job getting revenue (deposits). Which can fun withdrawals perfectly fine. Next year itll be something new.

I get your concerns. They cant repay their debt immediately, but which company can. I wouldnt worry too much at current point.

I.

I am not worried, as I keep my investments on the safe side, just pointing out that @Msturlese 's math is way off.

 

[PreyNaika]

Lets just stop bullshiting over mindark for one month please ,way to many people talk about stuff they dont understand.

 

[Msturlese]

Its not CASH they can pay out immediately as you say.
They can pay out their CASH position immediately. Which is around 2.5M US$ right now.
And this is obvious from their 10k, take o look at their cash and cash equivalents. If they had CASH to pay out for that "reserve" it would need to be stated in there. And it isnt. Easy peasy. GAAP is a bitch, no?

@ Igori... no one keep full cash

yes GAAP is a Bitch but gives explanations
1. financial asets 5.887.000 (can be liquidated, let's pose a haircut 10%? --- 5m PED
2. Short term receivables (bank aml held and credit card --- 3.5m PED
3. tax and other receivables i got no idea of timne to cash, probably more than 1 year
4. short term investment can be liquidated or are not short term by definition --- 9m ped
5 ofc cash thata is King 27m PED
total is 27+9+3.5+5 = 44.5 m that is ROUGHLY like the amount that is "considered " as statistic withdrawal

anyway you are free to withdraw if you think that your money is at "supposed" risk

as a final word. this is not a regulated investment. DEED are not secured by ANY regulator, DEED are worthless after 6 months (MA guarantees 6 month only in case of shutdown)

 

[Igorl]

Lets just stop bullshiting over mindark for one month please ,way to many people talk about stuff they dont understand.

This.
Sorry

I.