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It seems that today SV got 2.6M SEK (around 400K $) of investment in form of privately stock issue.
"Board of Star Vault AB decided October 15, 2013 to conduct a private placement of 2.6 million at a price of 0.26 per Class B share Markus Hodell , Magnus Uppsäll , William LW Nock and Joan Mir . The proceeds allow for greater development resources to hone in on the launch on STEAM .
The private placement is done with the authorization from the Annual General Meeting on 24 June 2013. The new issue includes 10 000 000 B shares and adds Star Vault SEK 2.6 million ( SEK 0.26 per Class B share). The purpose of departing from the shareholders' preferential right to get timely access to capital to allow for a well-conceived launch on STEAM shortly which unfortunately had not been possible through a rights issue. The Board believes that the private placement will benefit the existing shareholders in the future.
The rights issue will increase the company's share capital by SEK 400 000 . After registration with the Swedish Companies Registration Office , the number of shares will be 47,874,549 pieces (of which 1 250 000 A shares ) and the share capital will amount to 1,914,981 crowns.
CEO Henrik Nystrom comment
- More than 70 000 players voted us to STEAM , a major gaming platform with 4-6 million users daily. Being accessible through this channel gives us great opportunities to reach out to a larger audience. The provision of capital and thus a greater number of developer resources allows us to hone in on this launch so that it is just as well as global players today demand .
With additional capital , we intend to expand the so -called "physical game faces " in Mortal Online , which means that we can handle more players. We extend also to all the existing fields which currently already has stable gaming properties. We have built up a strong network of developers from around the world that we intend to use in this launch .
What is happening now is a combination of minor updates of the game in which key elements are in place . This week , for example, an entirely rebuilt so-called " broker " system is based on feedback where we see that play exchanges that are part of playing the economy is not working the way we want. This tool is essential to be able to merge multiple types of playing styles in the form of exchanges and demand. We also intend to release an upgrade to play the characters in order to both increase the playing performance and the visuals to deliver a high standard in these areas.
An example of major updates that many players looking forward to for months is a developed territory- system we call Dominion . This will give players many new play features where one can design their own cities and provide various services to other players. This is a long-sought systems that require large playing surfaces then it's up to the players to be creative in designing their cities. We estimate that these areas will begin to be launched beginning in October 2013 and continue accelerating until the first quarter of 2014.
We are positive that William LW Ridge , with its experience from the gaming industry, with and invest in this step, since he thereby shows that he is a long-term shareholder of Star Vault ."