Mindark Annual Report 2018 Eng version

Edward-James

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Thank you very much for posting this...always interesting to see some numbers...
 

antonioliveira

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@ the end of page 9 (Income Statement)

Net profit before tax........2 861 299
Income tax ...................-2 242 512 :eyecrazy:
Net profit..........................618 787

What income tax rate do companies in Sweden have?:confused:
 

matthew

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Always a revealing and good read.
My take away is that MA needs to stop it's side projects and focus on EU. This is something the community has known for many years anyway and now it seams the proof is on the paper.
Looking forward to more AMAs!
 

Darth Revan

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Sounds like they make a bit of money from inactive users:

"Approximately 3.9 million SEK (last year 7.3 million SEK) of net sales is related to
inactive users, i.e. a user whose account has not been active for at least one year. Remaining
funds in these accounts have been moved from player debt to net sales. If revenue from inactive
user accounts is excluded, this year's decrease in net sales is 15.9%."
 

stormick

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@ the end of page 9 (Income Statement)

Net profit before tax........2 861 299
Income tax ...................-2 242 512 :eyecrazy:
Net profit..........................618 787

What income tax rate do companies in Sweden have?:confused:
Holy crap. A quick google search showed that they have personal income tax of 60 something percent. I could imagine how corporate/business taxes could be...

God bless the land of the free.
 

Eli

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Holy crap. A quick google search showed that they have personal income tax of 60 something percent. I could imagine how corporate/business taxes could be...

God bless the land of the free.
The money for public services has to come from somewhere...
 

Spawn

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Holy crap. A quick google search showed that they have personal income tax of 60 something percent. I could imagine how corporate/business taxes could be...

God bless the land of the free.
Not a lot of beggars or homeless people on our side of the ocean. We take good care of our own. I am happy to pay tax to make sure we're all doing good.
 

Admiral

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i got few question :

where is money from that buged whip bp posted i dont see it(must be payed from players then )


approximately 3.9 million SEK (last year 7.3 million SEK) of net sales is related to
inactive users, i.e. a user whose account has not been active for at least one year. Remaining
funds in these accounts have been moved from player debt to net sales.

( i tought that tt value is payed for inactive accounts and money sent to their bank account, or i read wrong eula :scratch2:
 

LizeLotte

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God bless the land of the free.
:lolup:

:offtopic:

Take a look at Michael Moores documentary "Where to invade next" And then ask yourself what land u wanna live in :)

Not a lot of beggars or homeless people on our side of the ocean. We take good care of our own. I am happy to pay tax to make sure we're all doing good.
Yes

The money for public services has to come from somewhere...
:thumbup:
 

Darth Revan

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i got few question :

where is money from that buged whip bp posted i dont see it(must be payed from players then )
Probably included in operating expenses....its not like they are going to specifically address that one small amount and most likely lump it in with other things....or as you said, paid by players. But you will never really know for sure so don't waste sleep thinking about it.


approximately 3.9 million SEK (last year 7.3 million SEK) of net sales is related to
inactive users, i.e. a user whose account has not been active for at least one year. Remaining
funds in these accounts have been moved from player debt to net sales.

( i tought that tt value is payed for inactive accounts and money sent to their bank account, or i read wrong eula :scratch2:
Well if the player requests it then yes they would, but if you don't request the withdrawal they are not going to just send you money. Also inactive accounts most likely involve some banned accounts as well.
 

matthew

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i got few question :

where is money from that buged whip bp posted i dont see it(must be payed from players then )


approximately 3.9 million SEK (last year 7.3 million SEK) of net sales is related to
inactive users, i.e. a user whose account has not been active for at least one year. Remaining
funds in these accounts have been moved from player debt to net sales.

( i tought that tt value is payed for inactive accounts and money sent to their bank account, or i read wrong eula :scratch2:
In cases MA sells the items owned to return them to the economy, returns the TT value to the inactive's account and keeps the MU generated.

However I do find the accounting odd that the remaining funds move from debt to net sales, as the avatars could in theory log back in and request those funds... Maybe this is rare.
 

ihazbackup

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The company has
wanted to expand partly by developing an app (ComPet Game) and partly by creating a
marketplace for virtual objects (DeepToken). However, both these projects / products have only
generated costs and no revenues during the financial year. In 2018, ComPet Game generated
external costs of SEK 2 million, internal personnel costs of SEK 0.3 million and depreciation and
write-downs of SEK 6.5 million. DeepToken has generated external costs of SEK 4.1 million and
internal costs of SEK 1.4 million.
I don't know about DeepToken, but some of us have seen how compet will not be able to succeed shortly after compet project was announced. How can they as a company, who may have more insight to the mobile markets than us, not aware of this?

Also, in 2017's income statement the tax took all of the net profit? I'm not an economist or an expert in tax, but anyone can explain how it can happen?
 

GoNi

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However I do find the accounting odd that the remaining funds move from debt to net sales, as the avatars could in theory log back in and request those funds... Maybe this is rare.
Not if account deleted then they cant :D
 

GoNi

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Not a lot of beggars or homeless people on our side of the ocean. We take good care of our own. I am happy to pay tax to make sure we're all doing good.
Totally agree, social systems in europe work well in most countries and I am happy to pay 58% income tax + 19% value added tax in my country to make that possible.
 

Ace Flyster

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I don't know about DeepToken, but some of us have seen how compet will not be able to succeed shortly after compet project was announced. How can they as a company, who may have more insight to the mobile markets than us, not aware of this?

Also, in 2017's income statement the tax took all of the net profit? I'm not an economist or an expert in tax, but anyone can explain how it can happen?

All of their failed projects could mostly be put down to no advertising. (compet was originally going to be a webpage game only, without any app, lol, until the community told them the idiocy of that. But they still didn't market the game!)

Rgds

Ace
 

ihazbackup

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All of their failed projects could mostly be put down to no advertising. (compet was originally going to be a webpage game only, without any app, lol, until the community told them the idiocy of that. But they still didn't market the game!)

Rgds

Ace
Even with marketing, I think it still had very little chance to take off. It is such a generic mobile game that probably already had 10+ clones before.
 

jambon

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Even with marketing, I think it still had very little chance to take off. It is such a generic mobile game that probably already had 10+ clones before.
Actually when Compet was announced it was a somewhat fresh idea and would have done well if they were launching at that time rather than just announcing. And assuming they had a better marketing angle than the ol' "you can make money at it" campaign. Then of course they took forever to develop the app which wasn't smart considering apps is one of the fastest moving industries in the world.
 

GoNi

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Actually when Compet was announced it was a somewhat fresh idea and would have done well if they were launching at that time rather than just announcing. And assuming they had a better marketing angle than the ol' "you can make money at it" campaign. Then of course they took forever to develop the app which wasn't smart considering apps is one of the fastest moving industries in the world.
LOL only around 50 PET training arena games online that days (most free to play), fairly fresh idea? LMAO !!

The only idea that was fresh, was the optional link to EU so the tamers could sell their PETs in compet game, what never has been implemented.
 
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