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Funcom | Official Site
MMORPG | Setting:Real Life | Status:Final  (rel 07/03/12)  | Pub:Funcom
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The Secret World Forum » General Discussion » Funcom disaster: Annual 2012

1 posts found

Apprentice Member

Joined: 1/22/09
Posts: 130

OP  5/06/13 7:12:44 PM#1

One of the worst financial statements I have ever seen.  Riddled with debt and with almost no cash left over, the company literally was posting transactions that provided for $10,000.00 in cash to pay for operations. 

The stock is now trading at 1.43 NOK which is the equivalent of 24 cents US.  Shareholder return for the year is at -92%. 

The company flat out deceives on its report by listing employees as an average for the year rather than the number it has now:  very shady.  They aren't GAAP: someone should get canned for that.

Their F2P IP value has shrunk to 0.  They no longer have a single F2P entity which they value above a rotten cheeseburger on the street.  Their large scale MMO valuations did better: they only shrunk 75% over the year heh.  Can you believe that a year ago they had the audacity to think that AO, AoC and TSW had a market value of 52 million dollars?  Lolz.  That's a pretty high valuation for assets that produced a net income of negative 50+ million dollars heh.

Anyways, I'm glad the old CEO sneaked away with nearly 400k in severance.  He did a good job.