FYI: Mindark's Q2 Financial Report available

[hooters]

Just went on the Mindark website and noticed that the financial report for the second quarter was uploaded on september 10th. For those of you interested, here is the link:

http://mindark.se/press/financial-reports/

Although i'm not good at interpreting all that information, two things that i noted are:

Partnerships have so far been established with CRD, Cyber Recreation Development Corporation, China, Creative Kingdom Incorporated, USA and NextIsland LLC, USA.

I just thought that was interesting as a lot of people in the other thread about NextIsland were waiting for MA to say something about this. I guess that makes it official.

And it looks like the Net Deposits are down compared to the same time as last year (April-June), although it looks like January-June was stronger this year, so i guess it makes up for less deposits.

Enjoy reading !

 

[Ludvig|MindArk]

hm I think that this report has been posted on the forum... not sure if its the same though

 

[sunjewel]

awesome!!

Thank you for the information

now let's hope we can decipher it all! lol

jewels

;>

 

[gwit]

A lot of other interesting points:

1.Less revenue from the universe as their focus has shifted towards platform development

2. Talk about less revenue through greater development costs and weakening exchange rate

3. No separate set aside of Peds - in other words all PEDS are unsecured !

4. Stock market listing postponed

5. Moving away from technical development to business focus

6. Net sales down, expenses up - profit down.

 

[sunjewel]

hmmm

any info on the Mexican susidiary?

I can't search anything on this one . . .

Ilunova SA de CV

 

[hooters]

hm I think that this report has been posted on the forum... not sure if its the same though

If it is, my search is coming empty.

any info on the Mexican susidiary?

I can't search anything on this one . . .

Ilunova SA de CV

On page 2 of the report, there is something about it. Having trouble doing a copy/paste from the document though...

 

[Ludvig|MindArk]

6. Net sales down, expenses up - profit down.

yeah but that will probably even up when CE2 has been fully implemented... I don't think MA is stupid enough to try and do it without a big enough safety marginal...

 

[gwit]

This they are "stupid enough" comment - remember the first time the project appeared to go into some form of insolvency proceeding. Just because you enjoy the game don't credit them with massive business intelligence.

 

[Ludvig|MindArk]

This they are "stupid enough" comment - remember the first time the project appeared to go into some form of insolvency proceeding. Just because you enjoy the game don't credit them with massive business intelligence.

oh cmon, they might not be the best, but even by REALLY LOW standards it would be idiotic to start developing something really expensive that might get you bankrupted...

 

[xerxes]

oh cmon, they might not be the best, but even by REALLY LOW standards it would be idiotic to start developing something really expensive that might get you bankrupted...

You mean like the time Mindark developed Project Entropia and went bancrupt and investors saved the business? (Yes this really happned).
And you know what they say... History repeats itself.

 

[aridash]

You mean like the time Mindark developed Project Entropia and went bancrupt and investors saved the business? (Yes this really happned).
And you know what they say... History repeats itself.

thats not really a fair represntation of what happend though is it. from what ive read they declared themselves bankrupt when a bank called in its loans at short notice. the mananagment then arranged a buyout of the company from the receivers. since then they have made a profit every year i believe (maybe someone has old report to contradict?). shewd bit of business.

 

[Ludvig|MindArk]

You mean like the time Mindark developed Project Entropia and went bancrupt and investors saved the business? (Yes this really happned).
And you know what they say... History repeats itself.

I know that they did, ofc... but they also say that you "learn from your mistakes", and I think that MA really do know what they're doing (or at least I hope so...)

Also, that was very early in the development process.

 

[xerxes]

thats not really a fair represntation of what happend though is it. from what ive read they declared themselves bankrupt when a bank called in its loans at short notice. the mananagment then arranged a buyout of the company from the receivers. since then they have made a profit every year i believe (maybe someone has old report to contradict?). shewd bit of business.

potato potato (sounds better in my head )

 

[Tosi]

A lot of other interesting points:

1.Less revenue from the universe as their focus has shifted towards platform development

2. Talk about less revenue through greater development costs and weakening exchange rate

3. No separate set aside of Peds - in other words all PEDS are unsecured !

4. Stock market listing postponed

5. Moving away from technical development to business focus

6. Net sales down, expenses up - profit down.

Scary stuff, hopefully CE2 won't be epic fail.