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Semi Annual Report Jan - June 2012

Interesting the number of employees of MindArk dropped from 66 to 49?
 
Might be they're not counting the people who are now the Calypso team as MA employees, plus all the people who left due to the sale and then return of Calypso.
 
Few Scars said:
Interesting the number of employees of MindArk dropped from 66 to 49?
Click to expand...

Still hugely and unnecessarily bloated for a game company working on a single game continuously, but ok its a start.

5 management, 5 design, 5 coding, 5 support, 5 accounts, 5 technical

What are we upto so far - 30 :) for MA

5 design, 4 Art, 1 advertising < Arkadia has a lot less

Now we are looking more trim @ 40 total! Almost half the original 69.

That leaves 9 more heads to roll!

This is the part that worries me:

Operating expenses increased from
27.3 million SEK the previous year to
41 million SEK this year. This
increase is mainly a result of the
settlement with SEE.
The profit before taxes for MindArk
Group amounts to minus 12.2 million
SEK compared to minus 8.2 million
SEK for the previous year.

Expenses are increasing at a rate that is not sustainable. Resulting in continued and larger loses.
Even though SEE was the main reason this time. Will this occur again with another /shrugs.
 
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Art Jennifer said:
Well time to sell out
Click to expand...

Time to chip in :) And buy uber items, oh wait, another year things will be cheaper, markups will be gone, revolutionary measures are taken sometime after that to improve things ..... :) I don't see MA going bust.
 
Liquid funds (kSEK)
2012 ------ 2011
12 680 ------- 6 594


Did the liquid funds double in 1 year?


result of CLDS sold? =)
 
Viperstrike said:
Still hugely and unnecessarily bloated for a game company working on a single game continuously, but ok its a start.

5 management, 5 design, 5 coding, 5 support, 5 accounts, 5 technical

What are we upto so far - 30 :) for MA

5 design, 4 Art, 1 advertising < Arkadia has a lot less

Now we are looking more trim @ 40 total! Almost half the original 69.

That leaves 9 more heads to roll!

This is the part that worries me:

Operating expenses increased from
27.3 million SEK the previous year to
41 million SEK this year. This
increase is mainly a result of the
settlement with SEE.
The profit before taxes for MindArk
Group amounts to minus 12.2 million
SEK compared to minus 8.2 million
SEK for the previous year.

Expenses are increasing at a rate that is not sustainable. Resulting in continued and larger loses.
Even though SEE was the main reason this time. Will this occur again with another /shrugs.
Click to expand...

You've missed this ?
Forecast for Second Half of 2012
The current operations are expected to generate somewhat higher net deposits than for the same period in
2011.
Operating expenses are expected to be significantly lower than for the first six months of 2012, mainly due
to extraordinary items that accrued during that period.
Click to expand...

Also you'll note that the 49 staff is for the whole of the MA group, so including the AR Universe (Calypso PP) subsidiary.
 
What, a whole page and no one mentions this?

It is important for our participants to
have access to part of the Entropia
Universe functionality while on the
move. MindArk is now well into the
process of developing the first
Entropia Universe mobile app for
smartphones and tablets (iOS and
Android). Initially, these apps will
provide access to the Inventory,
Auction and Construction
Click to expand...

Collaboration with Project
Whitecard
MindArk has entered into a joint
venture with Project Whitecard, Inc.,
to develop a new client that can
deliver MMO gaming on virtually any
browser and mobile platform.
Click to expand...
 
Serica said:
You've missed this ?
Click to expand...

No, read it, I ignore forecasts, just looking at facts so far.

Forecast are pinned hopes only :)

We will have to wait and see what eventuates.

Don't get me wrong, I do not see any major negatives with the report, just a little worrying is all.

Extraordinary circumstances, sure, but they were as much at fault as SEE on this.

About to go off and borrow more money to fix up drainage and sewerage on mt new property which was intended for Entropia in the short term, now I see it as borrowing to play Entropia again, so it adds to the worry of - Is it really worth it. /shrugs tbh.
 
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Viperstrike said:
No, read it, I ignore forecasts, just looking at facts so far.

Forecast are pinned hopes only :)

We will have to wait and see what eventuates.
Click to expand...

No, you're looking at the facts so far, ignoring that there are declared extraordinary expenses included in this current period, and then making your own negative projections about the future, on no basis whatever.

These are audited accounts, and for them to state that the next period will not include those extraordinary expenses is a perfectly reasonable projection based on the financials, not a 'pinned hope'.
 
Serica said:
No, you're looking at the facts so far, ignoring that there are declared extraordinary expenses included in this current period, and then making your own negative projections about the future, on no basis whatever.
Click to expand...

Extraordinary expsenses are what they are announced to be sure, but there is nothing extraordinary about this and many other situations/historical issues MA has failed at, so really nothing extraordinary about them imho.

Just another fuckup like the almost 6 years of fuckups I have witnessed to date.

On a positive note, even though A LOT of money was wasted on the NASA project, at least we have now a partnership with the winner of this NASA project - which will cost a lot of money too to develop since it is their tech we are using and not our own.

CRD anyone, that cost a lot of time, energy and financial investment amongst other things.

I get tired of hearing excuses and would like to see something eventually go ... to plan :)

So far we have arkadia that I have seen as a smooth addition without hitches, other than that, most other things have been plagued with problems & failures ... mostly declared using one excuse or another extraordinary circumstance.

The negativity is there sure, it will take some successful smooth moving forward before track record clears itself.

Still I do not see any commitment to funding advertising, nor the contingency for David Posts' Next Island failure, err I mean slippery slope of near failure that MA claims they are likely to pickup the ball and run with - Another futuristic extraordinary circumstance I bet!
 
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Few Scars said:
Interesting the number of employees of MindArk dropped from 66 to 49?
Click to expand...

I hope Charlie is still there, I really liked that guy (not heard from him in a while in PCF).

Above all, good news the dispute with SEE has been agreed. Lengthy legal bill was not in the interests of anyone, glad all agreed to put it to bed.

Lets hope for a good winter ingame.

Rick
 
*considers making Viper a tinfoil hat for the meet*
 
Art Jennifer said:
But, who actually wants a flippin mobile app it will do nothing good for the game. It will just be there.
Click to expand...

it'll increase the turnover in crafting, if thats what they mean by construction, increasing MUs on materials probably.
 
aridash said:
it'll increase the turnover in crafting, if thats what they mean by construction, increasing MUs on materials probably.
Click to expand...

It would also potentially speed up the trading of different materials due to traders having access to the auction more often.
 
Nothing to be surprised by them working against logical thinking instead of making it a gaming-friendly environment that allows them all to scare their customers and when they make prejudge decisions that give big changes in the game so it looks like it is the last minutes drastic decision.:wise:


P. S. This new mobile app seems to be ok for crafters.:)
 
Serica said:
*considers making Viper a tinfoil hat for the meet*
Click to expand...

I vote that MA make ingame tinfoil hats for are avatars and give them as a gift, so are avatars can be protected from the mind control robots...
 
Stuff I took away from this was:

  • The web browser and tablet development in progress
  • That Planet Calypso arbitration ended - this means status quo stays
  • That while the calypso deeds were sold in April, these were actually delivered after june 30.
  • Cash flow was positive to the tune of 3 million sek
  • Unconsumed user holdings actually went up by 6.1 million sek compared to a year ago.
  • There was a share issue of 5M SEK
  • Assets and profit dropped. Operating margin of -51% is scary for the long term.

Overall its very much a "the sky is not falling right now" type of report. They have finally contained the bleeding, now it just remains to be seen if they still have enough left to fly, not just stagnate.
 
They probably paid back the payment they did got from SEE, they got the first 1M USD (about 6,9M SEK), so the settlement probably are that they paid that amount back and maybe more.

It's a bit worrying that the net sale are going down or don't increase, could be that with more planets the planet partners are take a bigger share of income from the players compared to 2011.
 
so no one noticed

"A sixth planet, Planet Toulan,
produced by Beladcom and
headquartered in Amman, Jordan, is
in full production. Estimated launch
for Planet Toulan is late 2012. "

:scratch2:

New planet comming in the next 3 months and no one cares :eyecrazy:
 
AxeMurderer said:
so no one noticed

"A sixth planet, Planet Toulan,
produced by Beladcom and
headquartered in Amman, Jordan, is
in full production. Estimated launch
for Planet Toulan is late 2012. "

:scratch2:

New planet comming in the next 3 months and no one cares :eyecrazy:
Click to expand...

Not much updates coming from Toulan, so what is there to discuss? I also don't think a new planet will necessarily change much anytime soon, looking how the existing ones are ramping up.
 
AxeMurderer said:
:scratch2:

New planet comming in the next 3 months and no one cares :eyecrazy:
Click to expand...


I think they already have said earlier that the planet would be launched in 2012, so nothing new. But i am not really sure we actually will see it launched in 2012, i guess it will be delayed to 2013, stuff like this tend to be delayed.
 
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