Star Vault Profits Continue To Drop In Q2

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Star Vault has posted their second quarter finances for 2014 and the results are not pretty. Net sales amounted to approximately seventy thousand dollars, down over 30% under the one hundred five thousand in the first quarter. Net profit, meanwhile, took a nearly 80% dive down to one hundred fifty two thousand in the red compared to eighty six thousand in the red for the first quarter.

The report notes that the number of subscriptions dropped in the second quarter. Player activity has dropped over the summer which Star Vault believes may be related to waiting for the territory control patch to be released. During the same quarter, Star Vault has also been at work to make Mortal Online compatible with the Oculus Rift.

Henrik Nystrom’s quarterly statement:

In April, we announced an updated development plan to allow time for testing and bug fixing prior to the launch on Steam, as the content and quality are prioritized over making a quick launch. During the first half of 2014 has been fully focused on getting the TC patch (Territory Control) with brand new unique features, completed and we went into the testing phase at the end of June.

As expected, the number of players has decreased over the summer, which may be partly due to the players wait for the TC patch will soon be released. At the end of the period, the reduction of the number of players stalled.

In parallel with the TC construction, we have worked with the new continent as planned, where most is via outsourcing. With the new continent will face in Mortal Online will be doubled and the new Territory control, we will be able to offer unique features.

During the quarter, we have also developed a full support for virtual reality headset Oculus Rift that lets you see the game world in a completely different way; when you turn your head the same thing happens in the game and you look around. It also sees the depth and 3D by Oculus, which may provide some benefits in Mortal Online because you always play the game in first person view.

We plan to further develop support for Oculus Rift hardware (now owned by Facebook) so that this is clear until the release date of Oculus Rift published. There is a huge interest in this among the players and we believe that the combination of Mortal Online and Rift Oculus will provide a gaming experience beyond the ordinary.

Henrik Nystrom
CEO, Star Vault AB

In the long term, Star Vault plans to develop new titles however no other information has been given.

Editor’s note: Quarterly reports are provided by Star Vault and publicly available via the Aktietorget stock exchange. All monetary values are presented in Swedish Kroner and are converted to US Dollars for your convenience using rates provided by Citibank NA and reflect trading values on the day of reporting. Henrik Nystrom’s statements are automatically translated by Google and some context/grammar may be lost in the translation.

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