Mindark Semi Annual Financials 2013

[JD RACING]

there no mu if every thing stop if you sell you item that worth 1k for 10k peds someone in the game have to have does peds or they have to depo

so all they have to have is the value its self covored and the peds that floating around

your 1ped item could be worth 150k or more but to them its still one ped in there book

you could have 150k for it but it has to come from inside the game or someone depo for it so if they depo for it the person that baught it covered the cost

so they only need to cover the tt value and the ped in game the mu is our problem

 

[Svarog]

so they only need to cover the tt value and the ped in game the mu is our problem

Of course, but they're able to cover less than 10% of tt value; allow me to quote myself from another thread:

There is no need for everyone to tt everything, because they don't have cash to back up even 10% of our stuff. According to the last semi-annual report, tt value of our ingame assets amounts to $11.2M, while their cash and bank balance is $0.9M (and total value of all their tangible and intangible assets is $5.1M).

 

[eartling]

Now I'm curious to read falling sky-threads from 2005-2006.
Anyone have some golden ones?

 

[Kitch]

Well a few months ago there was several threads with examples and then we saw the result of that when Camp Icarus flooded and then overwhelmed the whole PA server.

fyi this is still happenign. was at HMB - got kicked out of game, logged back in loads of us at icarus

 

[Jimi Herb]

Why is this thread still here?

 

[Ardorj]

What I don't understand is why MindArk has this fixed exhange of 1USB = 10PED, while when I buy and sell foreign currency at my bank the exchange is always higher when I buy then when I sell. For example I've looked at the exhange rates of six foreign currencies and what I would get from buy 1000 Euro worth and then selling that back to Euro. I use Euro because that is my currency, see this table.

Euro start	Foreign Currency	Amount I get	Euro back
1000,00	US Dollar	1365,81	999,905
1000,00	British Pond	824,17	999,794
1000,00	Swedish Krona	8792,35	999,403
1000,00	Canadian Dollar	1522,66	999,708
1000,00	Russian Rouble	47585,90	998,000
1000,00	Japanse Yen	140426,00	999,843

All in all 6000 Euro exchanging to six different foreign currencies and then back again to Euro will get me 5996,65 wich is 99,944%. From the bank's point of view, I've paid them 3,35 Euro or 0,056%. That don't look much, but it is if when the bank exchanges 1.000.000 Euro or MindArk 1.000.000 PED.

Anyhow, not desperate to give MindArk ideas how to wring out more PEDs from us, just curious.

 

[billairboy]

Anyhow, not desperate to give MindArk ideas how to wring out more PEDs from us, just curious.

Banks and other companies that exchange currencies do it because it's part of their the business to earn money from it, MA don't have that as a part of their main business.

But one thing that I think could be interesting is a system with a none-fixed PED/USD exchange rate, but with a fixed interval. Let's say a 10-15ped/USD ratio interval. When we have a lot of withdrawals the exchange rate could drop to a 15ped/USD ratio, we get 15 ped for each USD we deposits and gets only 0.066 USD for each ped we withdraw. When the deposits/withdrawals are in balance it's back to 10ped/USD. That way we could have a system then discourage withdrawals at times when withdrawals compared to deposited are high and instead encourage more deposits.

 

[Jimi Herb]

Im gonna ask again, why this bs thread is here. What first impressions newcomers gonna have when the first thread in General discussion is FYI:MA is losing money?? With the stupid FYI prefix it almost looks like its sticky thread here.
B)ARRRG! PANIC! (Your withdrawals, if done too late, may NOT be given) ----- ? How can OP write these bs statements that ur not gonna get ur withdraws?

C) Save MindArk! Or EU is DEAD!! ----- explains itself

So i cant mention any scammers or their socs here, but i can publicly bash MA even if the statements are incorrect. WTF is this shit. Whose interests this forum serves?

FYI: OP is another butthurt noob who lost loads of peds by playing stupid and is now crying here.

 

[aia]

What I don't understand is why MindArk has this fixed exhange of 1USB = 10PED

Because it's a pegged currency?

Like some currencies are pegged to USD (fixed exhange rates), some were pegged to french franc or german D-mark and are now pegged to Euro instead.

There are two differences:
First, for international Money, there is an administration cost and a value risk that the bank charges for.
Secondly, for echange offices, when youy buy dollar (or Euro) bills in a bank in Sweden, the dollar bills have to be transported to that bank, and while the bank has the currency there is also a risk.

The fees for buying and (and Selling back) PEDs instead is, instead of being handled as a difference betwen currencies, different fees according to a price list. Typically you deposit witn PEDs, so 1 PED=effectively 9.65 PED. And when you withdraw, MA charges an amount, and the sending (and receiving bank) takes their share. These shares aren't proportional to the amount. (ALso, instead of depositing by CC you can also deposit through bank transfer and then you probably pay a fixed fee instead, going to the bank, instead).

 

[Zenzile]

Im gonna ask again, why this bs thread is here. What first impressions newcomers gonna have when the first thread in General discussion is FYI:MA is losing money?? With the stupid FYI prefix it almost looks like its sticky thread here.
B)ARRRG! PANIC! (Your withdrawals, if done too late, may NOT be given) ----- ? How can OP write these bs statements that ur not gonna get ur withdraws?

C) Save MindArk! Or EU is DEAD!! ----- explains itself

So i cant mention any scammers or their socs here, but i can publicly bash MA even if the statements are incorrect. WTF is this shit. Whose interests this forum serves?

FYI: OP is another butthurt noob who lost loads of peds by playing stupid and is now crying here.

You are obviously the noob here... MA is losing a lot of money. It should worry anyone with half a fucking brain. To so naively think that MA will just hand out withdrawls and that their loss of money isn't effecting the game is one of the most stupid things ever. If they go bankrupt... they will not give out withdrawls. Are you some fucking fanboy or MA rep? You need to calm down kid, we play this game and pay for it, that means we expect quality service. Most people dislike when a company that is heavily involved in their lives produce false promises and stop doing things altogether. Plus if you seriously can't read financial statements, OP is right the game is losing money. New players should be informed about the game. Are you saying that this forum should be heavily censored so that newbies get some false image of what the game is. Give your head a shake...

PS: You seriously mistook some of OPs humor...

 

[Jimi Herb]

You are obviously the noob here... and other bullshit

Not the first time u come call me noob and try to trash my posts, so im gonna just make it easy for u to understand and get lost.
Everyone knows MA is losing a bit these last years. Its common knowledge, everyone can check their annual reports. One thing is to discuss these things in civil manner which i fully agree to do, other thing is to make threads like this, full of false info and bullshit and put FYI in front of thread to make it look like important topic to read. Has any withdraw not payed till today? NO? then quit the bullshit and move on. MA is big enough company that wount just disappear in a day and fk everyone, Yeah i bet MA really is so heavily involved in OPs life, i bet that the guy in OJ makes living from EU profits. One thing i agree to, MA has made too many broken promises and service is bad.

So explain me why exploiters and scammers are censored here, and shittalk about MA without any proof is ok? double standards much?

 

[Salty Grimyth]

Many posts are always one sided, I like the fact that people can openly discuss their own opinions and search for some knowledge that helps them better understand the financial stability that is or is not in the game. Try to weigh all opinions and conclude your own thought on how the platform is doing. I recently met up with some very savvy people who are involved with the game from all aspects of it, myself included. While I do have a good amount invested into the game with the BIG Industries land areas we have seen a 2-3 year ROI and have done very well in recouping our investments, which has allowed us to expand inside the universe. I am not saying that MA is not losing money, but rather that they are actually improving the game from what I have seen.

Here are some interesting things to consider:

1. MA has had new servers put into commission that replaced older servers allowing for smoother game play and less down time.

2. The Development team has been working hard at redoing old content and has done some great redesign with the Corinth server on Planet Calypso. Making it more new player friendly.

3. Planet Arkadia has seen a huge increase in player base and the economy there is quickly improving.

4. New player sign-ups are nearing 40% over the past year from information gathered by entropialife (3rd party non associated entity with MA).

5. Advertising money has been used to bring new player base into the game and it is working, some of these funds are used to provide new players with armor, guns, ammo, etc so that the increased player retention actually helps grow the economy of the platform. Remember that if there is a huge influx of new players at once it will effect the stability of the game, growing the user base at near 40% for a year is how it should be done vs getting a couple hundred thousand new players at once that crash servers and hurt retention. The more people who play and enjoy the game only helps all of us who still play.

6. Customer service is an issue when it comes to getting support to help with some things. Sadly many support cases I am sure are time consuming and need proper attention, while others are really not needed and take time away from the support cases that truly need attention. I for one have never had a support case take more than 3-5 days to get resolved depending on the complexity. I am sure their may be extreme cases but don't have high expectations for unreasonable requests that cant be handled simply with a fast response.

7. This last year MA paid off 100% of the funds needed for the failed sale of calypso and reduced the company debt. To me this is very positive, anytime a company can eliminate debt shows that it is moving in the right direction.

8. I have a positive outlook on what is being accomplished in the game not only by MA, but by planet calypso and Planet Arkadia. I hope that the Moon is going well for Akoz and don't know enough information on that subject to give an honest opinion about it.

In short, to anyone who reads this forum or any forum, form your own opinions read what everyone has to say and than play the game for yourself and determine that the time and or money you put into it has the entertainment value you desire.

So I ask you this.. Is the juice worth the Squeeze?


Cheers,
Salty

 

[Zenzile]

Not the first time u come call me noob and try to trash my posts, so im gonna just make it easy for u to understand and get lost.
Everyone knows MA is losing a bit these last years. Its common knowledge, everyone can check their annual reports. One thing is to discuss these things in civil manner which i fully agree to do, other thing is to make threads like this, full of false info and bullshit and put FYI in front of thread to make it look like important topic to read. Has any withdraw not payed till today? NO? then quit the bullshit and move on. MA is big enough company that wount just disappear in one day and fk everyone, and belive me if they do, im gonna be the first one to go sweden and molotow their hq. Yeah i bet MA really is so heavily involved in OPs life, i bet that the guy in OJ makes living from EU profits. One thing i agree to, MA has made too many broken promises and service is bad.

So explain me why exploiters and scammers are censored here, and shittalk about MA without any proof is ok? double standards much?

PS: please Zenzile, more - rep, thats all u can do ? go find some real arguments boy

I do agree that MA probably will stick around for a while and I also dislike that scammers and exploiters are censored. It is always worrying to see a company losing especially having a constant losing track record. Anyway, they probably are just leveling out. I mean, it doesn't make sense for a company to have like 20 million when there are around 4000 or less players in their game. So it's likely MA will stick around for a while. I think though, that OP was somewhat joking.

 

[Saradu]

I'm sure they are fine, they can put their castle on Ebay if they are short of cash.

ummm I think they sold the castle already from what I was told

 

[Saradu]

absolutely right!
But lots get scared away, the people that tell them the sky is falling.
I wish the old players would have something positive to tell the new ones...

But sadly and I know some older time players, they are getting fed up with MA and the game and cashing/chipping out because they are just fed up with MA's bs and how they have screwed this game up...... and truthfully it makes me sad, and these are some that deposit pretty good.

 

[Saradu]

NO? then quit the bullshit and move on. MA is big enough company that wount just disappear in one day and fk everyone, and belive me if they do, im gonna be the first one to go sweden and molotow their hq. Yeah i bet MA really is so heavily involved in OPs life, i bet that the guy in OJ makes living from EU profits. One thing i agree to, MA has made too many broken promises and service is bad.

Word of caution, a player named Shinobi made threats as you said above and he lost his account in a blink. I would tread lightly

 

[Divinity]

I wish the old players would have something positive to tell the new ones...

Well they do, just not on the forum... Who wants to waste precious time debating with people on the forum.. People who do well have more fun playing the game then getting into nonsensical debates on a forum..

But sadly and I know some older time players, they are getting fed up with MA and the game and cashing/chipping out because they are just fed up with MA's bs and how they have screwed this game up...... and truthfully it makes me sad, and these are some that deposit pretty good.

Everything that starts has to come to an end... There are very few games ( none that i can recall) that i have played and has the kind of longevity in terms of drawing the interest as far as games go. In EU the getting pissed and leaving happens more often because as long as you are doing well, you are basically enjoying the game and u never really get bored of it.. Everyone needs a break and you will see a lot of old timers come back to play the game.

As for the deposits etc, I personally know of 3-4 people who joined in last one year and have deposited well over 200k usd in game.. Now thats just among the ones i know, so i am pretty sure there are more beyond my knowledge.. Now just cause every time someone does that, he does not post on the forum to tell everybody about it, that does not mean that the game is dying just cause u see whining/quitting threads only. Last 1 year I have seen EU grow and become way bigger then what it was when i joined ( 2010).

I do think MA needs to work big time on there support and communication ( they have improved in terms of communication) and need to reduce the red tapism which seems present in terms of there operation. That said the game is way more fun now with much more variety then it was when i had started off.

Loot has always been a problem and it will always be as everyone cannot be pleased ( there is no magic formula that i myself can think of) and people tend to forget everything else when there loot cycles get awry. That is primarily an RCE issue and i don't think there is a way to get around it.

My 2 cents,

Divinity

 

[Magyar_Republic]

MA is losing money? Oh God, tell me it isnt true!

Everyone, hurry up. Let's all jump ship and play Afterworld. I hear they might be coming out with an RCE. ETA, anyone?

Oh wait, how about Project Titan. Blizzard will come in and SURELY save the genre!!! Oh wait, that was cancelled completely after 4 years in secret development.

I know! Surely someone who has played EU will know how to fix all the problems. They can steal all of MindArk's ideas, and launch a game! Why, that's totally legal. Just ask the staff of After Time Diaries.

Someone will have to come save us from our folly! You know, the folly of playing a game by the only group of developers so far who have been competent enough to pull this kind of idea off. AAAAH!

 

[Zenzile]

State of Mindark

I decided to relook at the Mindark financial statement. I really feel that the game isn't in as bad of a state as it appears. The company has profited from some activities and such. Their assets fluctuate each year and their debt is down. I am interested in the next financial statement now. Anyway, MA has always been very uncomunicative. Is this series of episodes recently something new?

As I think again though, losing your revenue and 50% more is not a good thing, how will ma stay alive with these losses? I feel that they need to reinvest their revenue and do so seriously and in an intelligent manor (not losing a bunch of money on a castle). Is there any way MA can recoup from these losses and turn a profit? I don't want MA bankrupt but if they keep this trend they won't be around much longer :/. Is MA's inactivity a sign of dropping some staff due to losses for the company? These questions seriously worry me and I was hoping someone could answer.

 

[AxeMurderer]

Lets say that Mr X and Mr Y and Mr Z own MA. Now MA makes 10 millions USD this month. Than it pays 5 millions to Mr X, 5 to Mr Y and 2 to Mr Z. Now in the ballans it will show as in + 10, out -12, total loss of 2 million dollars. So is that mean the company is doing bad. Or just some accounting stuff. Meybe the will never go on profit and still run the game for te next 50-100 years.
And if banks are behind the game maybe their goal is not the profit, but the virtual curency. Waiting for the next era of virtual money to begin.

 

[Zenzile]

Lets say that Mr X and Mr Y and Mr Z own MA. Now MA makes 10 millions USD this month. Than it pays 5 millions to Mr X, 5 to Mr Y and 2 to Mr Z. Now in the ballans it will show as in + 10, out -12, total loss of 2 million dollars. So is that mean the company is doing bad. Or just some accounting stuff. Meybe the will never go on profit and still run the game for te next 50-100 years.
And if banks are behind the game maybe their goal is not the profit, but the virtual curency. Waiting for the next era of virtual money to begin.

Possible I suppose. Thats reassuring but there is still the possibility that they are losing anyway :/

 

[perry.elroy]

This is gonna turn in the BEST THREAD EVER (if it isn´t already)!

I´m really looking forward to it!


Cheers

Mr. X

 

[nutrageti]

Declaring a profit is more useful when you're interested in getting more investors (like to sell more shares and what-not). Making it appear as if you've lost money(as in paying those already existent investors more) is useful for tax purposes.

The truth? we'll never know what's happening there exactly..up until MA announces either bankruptcy or the acquiring of a new RL castle...

 

[forgo]

A company is only as good as its management, how would you rate the state of that as a paying customer? Are they effective at communication and deadlines? Are policies adhered to consistently? Is the community of the product in general happy? Have they had any outstanding legal issues in recent years? judgements against them? assets with significant loss in value?


These are the factors that determine the real future of a company, anyone can move numbers around on paper, or fall into/out of a trend. Sadly, MA fails on all points. Which is why I no longer support the company with deposits.

 

[J.C Cougar]

Ther is no MA!

This whole thread is poorly researched. There is no Mindark anymore, it has already been declared bancrupt.
There is however a company named Planet Calypso.

 

[Svarog]

I don't want MA bankrupt but if they keep this trend they won't be around much longer :/

I believe that a company that constantly lives on the edge has better chances of survival even through world crises than those that are used to prosperity. It's like... if today an asteroid would hit Earth and destroy the civilization as we know it, people somewhere in Congo would hardly notice that something has changed.

 

[Teiwaz Storm]

This whole thread is poorly researched. There is no Mindark anymore, it has already been declared bancrupt.

What are you talking about?
Link or it did not happened.

There is however a company named Planet Calypso.

MindArk is mother company.
Planet calypso AB is subsidiary company, developing Planet Calypso.

Check your facts before posting in such sensitive topics!

 

[Sunsout Gunsout]

Declaring a profit is more useful when you're interested in getting more investors (like to sell more shares and what-not). Making it appear as if you've lost money(as in paying those already existent investors more) is useful for tax purposes.

The truth? we'll never know what's happening there exactly..up until MA announces either bankruptcy or the acquiring of a new RL castle...

Dead right. Their numbers look just like every other solid, growing company that intends to stick around long term, does not plan on changing ownership, and does not plan on altering the successful majority of it business plan.

As far as future growth, in this age of tech and currencies, they are in a great position to capitalize on the evolution that is occurring world-wide, and I have a feeling that there is much more to come. I have never actually been more confident than I am right now.

In my line of work, we are constantly using experts to conduct business valuations, go over financial reporting, give solvency opinions, etc. Informally, they (a few who owed me favors) see nothing out of the ordinary when they look at info currently available. (I understand that what IS available might be skewed, limited, or outright BS, but taking it on it's face, it is nothing out of the ordinary)

Of course we may be wrong, but tbh, like I said, I don't see anything to worry about based on what MA has been reporting.

Edit: I am not a MA homer, or fan-boy, I do not work for them, and anyone who insinuates that can go fuck themselves. I am a very hard person to convince, however, and as much as I hate them sometimes, I am intelligent enough to not let emotion bias opinion. So despite my rage at MA occasionally, on THIS issue, I believe defending them is valid.

 

[ZPF]

Well the fact that withdrawals are now taking 518903513895 business days can't be a good sign...

 

[J.C Cougar]

What are you talking about?
Link or it did not happened.



MindArk is mother company.
Planet calypso AB is subsidiary company, developing Planet Calypso.

Check your facts before posting in such sensitive topics!

Facts has been checked! Sensitive information, i dont think so.
This is nothing new and/or secret. This is public information that you can find at www.bolagsverket.se.
"MindArk AB
Orgnr556559-2960
Företagsform AKTIEBOLAG
Ort Göteborg
Län Västra Götalands län
Firma Status Konkurs avslutad"
It doesnt mean anything really, just that they got another name or registrered somewhere else than Sweden.
No need to jump the ship just yet.
Oh yeah forgot to tell you who dont speak Swedish. Konkurs avslutad means Bancrupcy finalised.