I apologize for the poor translation. Finances have been translated to USD using rates provided by Google and accurate as of January 25, 2012. All of this information was sourced via official financial documents translated through Google translator. You can view the original document here.
Star Vault has released its combination Q4 and 2011 Interim Report, showing a decrease in subscriptions and a continued drop in profit. In addition, the company has announced an unspecified number of layoffs.
Q4 2011 Points of Interest:
Net Sales: $82,661 (from $103,515 in Q3)
Profit after Finances: $-123,119 (from $-105,623 in Q3)
Subscriber numbers were down in Q4 compared to Q3 (which saw a jump in sales but lull in subscribers). Star Vault attributes this to the game being difficult to new players. The number of forum members increased by about 600.
Interim 2011:
Net Sales: $408812 USD
Profit after financial items: $-505,751
Earlier in 2011, Star Vault voted for the sale of 9.9 million shares, bringing in $528,000 (before transaction fees) to repay a loan. In June, Star Vault announced partnership with LeKool for publishing Mortal Online in China.
In order to reduce costs, Star Vault has reduced its number of employees.
Star Vault has over the past year undergone some changes and we have among other things, forced to revise the previous target to achieve breakeven in 2011. One reason for this was to Mortal Online has not adhered to the players’ high expectations and that Star Vaults cost base has been too great. We have learned lessons from what happened during the journey and is working hard to develop the game in the right direction. One change we have implemented to reduce the above cost base is above all that we have reduced the number of employees and instead will make use of consultants as necessary.
With the release of Dawn and Territory Control expansions, Star Vault hopes to make Mortal Online the most challenging PvP game.
And the moment that we were all waiting for, Henrik’s statement on the state of the game.
With our current cost structure of the Board believes that we are very close to achieving break-even, a goal we hope to achieve during the second quarter of 2012. We have a strong belief in Mortal Online, and still see great opportunities in the market we are.
MMO Fallout 