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Annual Financial Report released

Slapshot1188Slapshot1188 Member LegendaryPosts: 14,243

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=http%3A%2F%2Fwww.aktietorget.se%2FNewsItem.aspx%3FID_News%3D57614%26Language%3D2

 

  Summary of Full Year Results 2010



2010-01-01 - 2010-12-31 (helår) 2010-01-01 - 2010-12-31 (FTE)

* In fiscal 2010, net sales amounted to 5,855,892 SEK (5.10165 million).

*  In fiscal 2010, profit after financial items -753 755 SEK (897 927) and earnings per share were -0.028 SEK (0.033).

* The equity ratio at 2010-12-31 amounted to 71.7%.

 

2010-10-01 - 2010-12-31 (fjärde kvartalet 2010) 2010-10-01 - 2010-12-31 (fourth quarter 2010)

* During the fourth quarter 2010 net sales amounted to 1,077,883 SEK (962 556).

*  During the fourth quarter of 2010, profit after financial items -1,497,779 SEK (-207 248) and earnings per share were -0.056 SEK (-0.008)

 

*  The number of months paying customers during the fourth quarter of 2010 remained stable

 

Compare that to Henrick's comments in the Q3 report:

 

Our goal for 2010 is to increase sales of licenses and monthly payments during the fourth quarter by 25 percent over the third quarter.

 

 

Wow.. that report just looks ugly.

All time classic  MY NEW FAVORITE POST!

"I should point out that no other company has shipped out a beta on a disc before this." - Official Mortal Online Lead Community Moderator

Proudly wearing the Harbinger badge since Dec 23, 2017. 

Coined the phrase "Role-Playing a Development Team" January 2018

"Oddly Slap is the main reason I stay in these forums." - Mystichaze April 9th 2018

Comments

  • shogunoneshogunone Member Posts: 85

    I love how he always gives forum numbers and not paying subs.  He is lucky I am not a stockholder I would demand to know actual real numbers not his magic ones.

     

    Also...

     

    "Star Vault is now planning to launch marketing activity as the foundation and stability sufficient to allow new customers to try the game and Star Vault estimates that approximately a further 1500 players needed to reach breakeven, given the new cost efficiency."

     

     

    Did he miss a 0 in the 1500 or did they fire a bunch of people.  I know that he said on a couple occasions that they need 15,000 to break even.  Is he trying to say that there are 13,500 subs??  Are they hiding at the bottom of the ocean in a hidden city?

  • Slapshot1188Slapshot1188 Member LegendaryPosts: 14,243

    Originally posted by shogunone

    Also...

     

    "Star Vault is now planning to launch marketing activity as the foundation and stability sufficient to allow new customers to try the game and Star Vault estimates that approximately a further 1500 players needed to reach breakeven, given the new cost efficiency."

     

     

    Did he miss a 0 in the 1500 or did they fire a bunch of people.  I know that he said on a couple occasions that they need 15,000 to break even.  Is he trying to say that there are 13,500 subs??  Are they hiding at the bottom of the ocean in a hidden city?

     I'm not sure.  The report says they lost 1,497,779 SEK for Q4 which is $234,340 USD according to the currency converter.  If you divide that by $15 a month you get over 15,000 needed additional subs.  Now I haven't gone through the report yet so the loss might be due to one-off costs.  I'll dig through it later when I am done chopping wood.

     

    EDIT:  Just after posting that I realized it was for a quarter.. so divide that 15,000 by 3 to get 5000 additional subs required.

    All time classic  MY NEW FAVORITE POST!

    "I should point out that no other company has shipped out a beta on a disc before this." - Official Mortal Online Lead Community Moderator

    Proudly wearing the Harbinger badge since Dec 23, 2017. 

    Coined the phrase "Role-Playing a Development Team" January 2018

    "Oddly Slap is the main reason I stay in these forums." - Mystichaze April 9th 2018

  • DarthMooskaDarthMooska Member UncommonPosts: 146

    EDIT:  Just after posting that I realized it was for a quarter.. so divide that 15,000 by 3 to get 5000 additional subs required.

    You mean divide it by 4?

    I derive my strength from passion. Do you feel that? That is what seperates you and I, Jedi!

  • PoopBucketPoopBucket Member Posts: 66

    I thought that also, but its 3 because you are going from a quarter to a month.  3 months in a quarter.

  • raff01raff01 Member Posts: 453

    Yup, I stick to what I said from the begining : StarVault won't make it past 2011

  • DarthMooskaDarthMooska Member UncommonPosts: 146

    Thats what I get for not thoroughly looking at it.

    I derive my strength from passion. Do you feel that? That is what seperates you and I, Jedi!

  • NeoptolemusNeoptolemus Member Posts: 242

    I'm just wondering where they'll get an additional 1500 subs from. Assuming the number of active players is in the region of 100-200, plus maybe 50 who subscribe but don't play, which is generous I think, they'd still need to effectively multiply their active subs by 6x and maintain it.

     

     

    Im sure the free trial might encourage a few to sub for a month or two, but long term? They have a very poor retention rate due to issues very eloquently phrased by thaeric.

  • cirsyndiccirsyndic Member UncommonPosts: 261

    So, they didn't increase by 25% in last quarter, and they need 1500 subs in this quarter to break even if you take it at face value. Mission impossible imho.

  • funkmastaDfunkmastaD Member UncommonPosts: 647

    Originally posted by raff01

    Yup, I stick to what I said from the begining : StarVault won't make it past 2011

    {mod edit}  before, you were saying they wouldn't make it past 2010, remember?  

  • SlyLoKSlyLoK Member RarePosts: 2,698

    When people start taalkking wwith percentages you know something is up.

    Like Turbine when they started throwing around percentages with DDO and the " 500% increase " but then never mention the base number. It just sounds better.

    With this.. 25% doesnt seem like much work to get but it really is in the games current state.

  • rhinokrhinok Member UncommonPosts: 1,798

    This phrase says it all:


    On board meeting February 16, 2011, the Board decided on a rights issue of approximately 3.6 million before transaction costs to ensure the company's operations until a positive cash flow is achieved.

    In other words, they need cash in order to continue running.  Without it, there's a very good chance they'll cease operations.

    ~Ripper

  • osmundaosmunda Member Posts: 1,087

     


    @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.



     


    Originally posted by funkmastaD

    Originally posted by raff01

    Yup, I stick to what I said from the begining : StarVault won't make it past 2011

    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  



     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen 15,000 minimum subscriptions, but never from anyone connected to SV. Could someone post a link to anyone at Starvault saying that? Also, exactly how are people coming by these population estimates?



     


    @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I'[email protected] : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I'[email protected] : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen 

  • Slapshot1188Slapshot1188 Member LegendaryPosts: 14,243

    Originally posted by osmunda

     


    @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.



     


    Originally posted by funkmastaD

    Originally posted by raff01

    Yup, I stick to what I said from the begining : StarVault won't make it past 2011

    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  



     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen 15,000 minimum subscriptions, but never from anyone connected to SV. Could someone post a link to anyone at Starvault saying that? Also, exactly how are people coming by these population estimates?



     


    @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I'[email protected] : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I'[email protected] : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen @Rhinok : good pickup.  That one line very well sums up their current financial situation. Still I remain hopeful for the continued improvement of the game and SV's success.


     


    Originally posted by funkmastaD


    Originally posted by raff01


    Yup, I stick to what I said from the begining : StarVault won't make it past 2011


    haha, such a liar... before, you were saying they wouldn't make it past 2010, remember?  


     


    Technically, he said "very soon" on July 12th.


     


    Also, I see a lot of numbers being bandied about with no apparent source. I've seen 

     The 13-15k number was given by someone (don't remember if it was Henrick or Mats) a looong time ago and is probably moot at this time.  It was linked in the past but I'm not looking through a year+ posts to find it again.   Here is my take on what we DO know:

     

    Q4 they lost around $234,000.  That's a loss of $78,000 a month (and it was accellerating compared to Q3).  If you divide the monthly loss by the sub price you get $78,000/$15 = 5200.  That would be the number of additional subscribers needed to sustain operations.  So whatever their base is now.. you need base + 5200.  If costs remained the same.

     

    Now Henrick has stated they need 1500 new subs based on their new cost structure.  So that means they have reduced cost (or claim to).  Well.. you have the fees to run the game... maybe EPIC lowered the price (possible but doubful it would be so dramatic)?  Or you have salaries...

     

    My guess.. and it's only a guess.. is that he is counting the box(or digital) purchases of those 1500 thus doubling the revenue.  It is in fact true that it would increase the revenue for one month, but that is a oneoff and generally you would prefer to look at subs as a number needed to breakeven as opposed to one-off purchases.

    I still haven't read the full report so I will see if it contains more specific data, but even just using the figures published in the news release we have the quantified amount of money they lost for the full year of 2010 and the fact that it was accellerating in Q3 and then even moreso in Q4.

    All time classic  MY NEW FAVORITE POST!

    "I should point out that no other company has shipped out a beta on a disc before this." - Official Mortal Online Lead Community Moderator

    Proudly wearing the Harbinger badge since Dec 23, 2017. 

    Coined the phrase "Role-Playing a Development Team" January 2018

    "Oddly Slap is the main reason I stay in these forums." - Mystichaze April 9th 2018

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