Funcom's last MMO, Anarchy Online, had a disastrous launch. I would hope they would have learned from that not to rush a product into retail before it is ready. I'd love to see the game Oct. 30, but I'd rather wait than have a bad launch.
Your like so far in the past. Lets RETHINK this with some TRUTH instead of skewing the facts...
"Funcoms last MMO, City of Hero's, had the most successful launch of any MMO in history. Game magazines prized it as a masterpiece executed with precision, and elegance"
I think Funcome cant manage to hold the release date at all. As said before it orignal launch was the sommer 2006 and then it was change to winter 2006. Then later the sommer 2007 and now this.......
I think Funcome is coming to the edge where is no money left. Age of Conan should have release a long time ago and now it seems they are at least 2 years behind the production and development.
For me, There is 3 way for Age of Conan so far.
1) Its released to October (filled with bugs and errors).
2) Its skipped in Year 2008 at some point maybe Q2 or Q3.
There is no way they would cancel at this point, the game has come way too far and is late in development. They would lose far more money cancelling than they would releasing what they have, even if it was buggy.
With past games, fans have shown that there is enough people willing to pay for buggy incomplete software to warrent releasing in such a state. This is not good for the industry but it is how it is. Even Vanguard was able to stay afloat, if they can do it anyone can.
I am in no way saying AoC will be buggy at release. Just that even if it WAS, they would sooner release it buggy than cancel it, period. So I wouldn't have even listed cancelled in there.
I think Funcome cant manage to hold the release date at all. As said before it orignal launch was the sommer 2006 and then it was change to winter 2006. Then later the sommer 2007 and now this.......
I think Funcome is coming to the edge where is no money left. Age of Conan should have release a long time ago and now it seems they are at least 2 years behind the production and development.
For me, There is 3 way for Age of Conan so far.
1) Its released to October (filled with bugs and errors).
2) Its skipped in Year 2008 at some point maybe Q2 or Q3.
3) Its cancel.
The mere thought of them canceling this game is ridiculous. They would lose everything they have invested to this point. Not to mention, having a game that is this far along, and this watched by the public canceled would seriously bring funcom's ability to create a game into question. Any chances they would have for future third party investment capital would be gone. Even if it did end up being buggy, Vanguard bad even, they would atleast recoup some of the money at release. Do I think this will be another vanguard? No way. I think part of the problem is that so many people where duped by Mcquad and what he was selliing that now they worry that it will happen every time. Ultimately I think conversations like this will continue until the game is released. Unlike WAR, there isn't tons of information coming out. Because of that, people's imaginations (mine included) tend to run wild to the worst case scenarios.
True there is no chance in hell that Age of Conan will be cancelled. There's way too much hype and time invested in it. So now i'm thinking it will be released around Christmas or early 2007.
You can't say that civilization don't advance, however, for in every war they kill you in a new way. -Will Rogers
True there is no chance in hell that Age of Conan will be cancelled. There's way too much hype and time invested in it. So now i'm thinking it will be released around Christmas or early 2007.
...or maybe early 2008
I don't think it will be cancelled or pushed though. None of those options seem viable for FunCom after the AO release. If they had another botched release people would lose all faith in them, and no investor would touch them with a hot poker.
No, I think release will go ahead as scheduled, with bug fixes and updates coming heavily in the start, as with any other MMORPG out there.
Funcom AS announced that they will report Q2, 2007 results on July 26, 2007. After that meeting Funcom share price was down 4.65% after the this was announced on 06/26/07.
Then June 27, 2007. Funcom completed a private placement and through this received additional funding of approximately 30 million USD.
The way I look at it, then Funcom had run out of investment back in July, but thanks to stubborn share holder, Funcom manage go gain a additional 30 million to aid the company. But of cause it two years behind the orignal release. So its a costly affair. Its a high Texas Hold´Em with a huge risk at this moment. I would have pulled the plug right now. However some share holder believe still in this game.
Funcom's last MMO, Anarchy Online, had a disastrous launch. I would hope they would have learned from that not to rush a product into retail before it is ready. I'd love to see the game Oct. 30, but I'd rather wait than have a bad launch.
Your like so far in the past. Lets RETHINK this with some TRUTH instead of skewing the facts...
"Funcoms last MMO, City of Hero's, had the most successful launch of any MMO in history. Game magazines prized it as a masterpiece executed with precision, and elegance"
Dude.....what? City of Heroes is Funcom's? Since when?
Funcom still only has AO and with the release it had, they have to get AoC right on release.
Funcom has not fantastically prolific during these last six year, but the few games it produced still stand the test of time at least for now. KS Teknoinvest VII have already pulled the plug and sold there 3.24 million share holding. At this point I am sure, but about 60-70 millions USD was taken out of Funcom AS by KS Teknoivest VIII.
In your opinion, why did Funcom Ireland eventually close?
Why did Anachy Online last expand pack get cancel and got a tiny patch instead
Why did Funcom Dublin’s only Xbox project "Jet Sprint MX" was cancel
And the answer is; Age of Conan and have already consumed the project money and Funcom tried to transfer capital from there other deparment by shuttting them down, and now they need even more in a almost futile attemp to get it release, sadly. The mostly likely release for AoC will be 1 March 2008
I can make a PDF and link it, if somebody want to read the Funcom general meeting of shareholders.
Its not a theory, just facts and beside its been delayed for two years now.
Q2/2006 more than 1Mio $ loss (with income 2,6 Mio $ from Dreamfall) - for me it is about 3,5 $ loss each quarter you don't have extra income from other products.
Q3/2006 = 3,5 Mio $ loss
Q4/2006 = 3,5 Mio $ loss
Q1/2007 = 3,5 Mio $ loss
-----------------------------
total about 10 Mio $ loss until 31.March 2007
(and 2/3 loss from the delay)
Any arguments against ?
If not - then we all have the information we need and this thread can be closed ...
It's not really so much about the money as to why Funcom is holding back. It has to do with the release of Anarchy Online. Honestly, can you imagine the repercussions of what will happen to Funcom if AoC doesn't release in a solid, stable state? When AO released in 2001, it was the worst release of an MMO to date. It still rates as the number 1 worst MMO release I personally had ever experienced. I purposely didn't get involved in the Vanguard release because I saw another AO type release happening. Funcom knows this. They understand what will happen if AoC shows anything like what AO did on release. They saw what happened to Vanguard when it was released. And I actually have respect for them holding it back to make sure it releases well. I don't want to see Funcom fail, I am rooting for AoC to be a successful game. I personally won't pre-order it nor buy it the day it releases due to what I experienced with Anarchy Online and the fact Funcom has to earn back my trust. That doesn't mean I am against Funcom. I really do want them to succeed.
The user and all related content has been deleted.
AmazingAveryAge of Conan AdvocateMemberUncommonPosts: 7,188
Originally posted by Battlekruse
Its not a theory, just facts and beside its been delayed for two years now. Q2/2006 more than 1Mio $ loss (with income 2,6 Mio $ from Dreamfall) - for me it is about 3,5 $ loss each quarter you don't have extra income from other products.
Q3/2006 = 3,5 Mio $ loss
Q4/2006 = 3,5 Mio $ loss
Q1/2007 = 3,5 Mio $ loss
-----------------------------
total about 10 Mio $ loss until 31.March 2007
(and 2/3 loss from the delay)
Any arguments against ?
If not - then we all have the information we need and this thread can be closed ...
Originally posted by Fion
Is it me or does Battlekruze desperately want Funcom to fail here.
I agree and his interepretation of the information linked is wrong too. Bare with me and i'll show you why.
Further more he failed to neglect to say that Funcom has generated 11 million gross profit over those 4 quarters his listed.
After all operating income for those 4 quarters we listed as
OPERATING INCOME
-1.2
-0.4
-1.0
-1.2
Which overall provided: $2,5 income for those 4 quarters listed.
NET INCOME
0.7
-1.2
3.2
-0.2
Financial Statement for the Quarterly Income Statements commented on:
Compared to the same quarter last year, Funcom N.V. has seen net income shrink from a gain of $612.0K to a loss of $204.0K despite relatively flat revenues. A key factor has been an increase in the percentage of sales devoted to SGA costs from 111.42% to 146.07%.
What our war friend/troll Battlekruse failed to mention or even look at too was the Quarterly Balance sheet statement on the same site he linked - let me post what it says:
Financial Statements for Funcom N.V.
The capital structure at Funcom N.V. does not rely on leverage. Because of this, the company can be considered to have low financial risk. Accounts Receivable are among the industry's worst with 65.53 days worth of sales outstanding. This implies that revenues are not being collected in an efficient manner.
To statement posted on said site and copied here above is pretty unstandable. I.E. LOW FINANCIAL RISK, Sales still outstanding to be posted, hence the quarterly report due in 4 days time. It doesn't say that there aren't revenues just that it implies there aren't being collected effiiciently.
Also there 4 quarter trend for the same period, taking into account their liabilites and equity (in + $millions):
TOTAL LIABILITIES AND EQUITY
61.6
59.2
63.5
63.1
Looks pretty stable to me over the last 4 quarters..
"In 2006, CFF (Cash Flow from Financing) was negative, which tells investors that this company did not need to attract significant financing from outside sources."
Growth over prior year in Gross Profit as an Industry Comparison = 108.01%
Total Revenue over prior year = 78.29%
Oh btw Battlekruse did you even bother to click the yearly reports? In my experience these show how a company stands up more that the last 4 quarters. hmmm for the sake of it here are the comments made by the website link you posted concerning the last 4 years;
Income Statement Comment:
Financial Statements for Funcom N.V.
Year over year, Funcom N.V. has been able to grow revenues from $5.3M to $10.8M. Most impressively, the company has been able to reduce the percentage of sales devoted to income tax expense from -0.11% to -24.36%. This was a driver that led to a bottom line growth from a loss of $1.6M to a gain of $3.3M.
Balance Sheet Statement:
Financial Statements for Funcom N.V.
Funcom N.V. has a strong Balance Sheet and has consistently grown its cash reserves over the last Four years to total $37.4M.
Finally the Cash Flow Statement:
Financial Statements for Funcom N.V.
In 2006, Funcom N.V. increased its cash reserves by 41.86%, or $11.0M. As a percent of revenues, this was among thebiggest increases by any company in the Software industry. By looking at the Cash Flow Statement, analysts can easily see the sources and use of cash generated throughout the year.Cash Flow from Operations (CFO) is the only sustainable source of cash and represents earnings from the day-to-day business of a company. In 2006, this company earned $286.0K from its operations for a Cash Flow Margin of 0.03%. Cash Flow from Investing (CFI) is a measure of the cash used to maintain and grow the business, also called Capital Expenditures, or CAPEX. In 2006, management spent only 1.83% of its revenues in attempting to spur growth in its operating business lines. That was among the lowest in the industry and indicates that this company either does not feel it is necessary to or is unable to invest as much as others in the group. Cash Flow from Financing (CFF) describes the inflows and outflows between a company and its owners or creditors (although interest paid is part of CFO). In 2006, CFF totaled $19.8M or 1.83% of revenues. This consistently positive value over the last 4 years, tells us that this company looks to the capital markets for fuel to help it grow.
Has the game been delayed for two years now??? where is your proof? From a Press Release:
"Funcom and Conan Properties LLC jointly confirmed the in-development status of Age of Conan in an official press release on April 20, 2005" It was only 2 years ago they officially announced the game Troll... And this time last year they announced their publisher Eidos.
I would like to apologise for posting so much, but the link is there for everyone to see for themselves. Battlekruse has no interest in AoC whatsoever and takes any opportunity he can to slate it. Worst of all he slates their financial history with his totally out of focus and hate for the game. He didn't post all the facts and I thought it would be necessary to post them here. I don't like seeing misinformation.
The facts are:
Funcom is a proven financially stable company
Funcom has assests over $60 million
Whenever, the game is going to be released on time 30th October 2007 or whenever, the playing public will be the judge on how good it is.
Battlekruse is a troll, and an AoC hater, He posted up non factual and not the whole story in a further attempt to put Funcom and AoC down, he is also the lover of a game which will compete with AoC for subs at some point = war. (what does this tell you?)
But, the main point is, the company is stable enough to put out a game, there is no financial constraints atm. The development / Beta testing has never been hinded by any constraints of any financial type because there were none.
If I was Battlekruse I would be more worried that E.A own Mythic instead of posting wrong information.
Originally posted by ThaneB I've got to say the only thing i think is bad about AOC is its release date. i was planning on getting a good mmo during the summer, but AOC and most of the innovative new mmos are going to be released in fall, so i'll be strained for time due to school. Does anyone else have this problem?
Meh..they always release either around thanksgiving or christmas. There have been few that released any other time, and if they have its probably because they are trying to grab a subscription base before the big dawgs come out to play for the christmas rush.
This release date will stick. Anyone that thinks they will, try giving some good reasons why you think they would not.
I'm a van-bois. . . but two words...
VAN
GUARD.
no company is going to push the game before it's ready anytime soon because of the trainwreck that i am enjoying playing has been.
Your totaly wrong. Q3 is the best Release time for new software and Hardware. Why do you think more gets released in Q3 then any two other Quaters? Because everyone HAPPENS to finish in Q3? Because Investers want them to HOLD it and not make money for a few extra Months? No, Because they'll do whatever they've got to do to make a Q3 Deadline. Hopefully that includes working overtime and getting it ready.
AmazingAvery I loved that post. I love when people provide FACTS. Everyone here has a different oppinion and I hardly care what they are sometimes. (Sometimes I do.) But I always enjoy cold hard FACTS.
I didn't think "Battle" was trying to say down with Funcom, but rather they would lose a noticeable amount of money by not releaseing. The ever present Dollar will alwayd dictate. Q3 is the best time to release. They are near completeion. Things are Ideal for them to aim for a Q3 Release.
Comments
Your like so far in the past. Lets RETHINK this with some TRUTH instead of skewing the facts...
"Funcoms last MMO, City of Hero's, had the most successful launch of any MMO in history. Game magazines prized it as a masterpiece executed with precision, and elegance"
Ummm City of Heros was developed by Cryptic Studios www.crypticstudios.com/ , not Funcom. Funcom only has one released MMO and that is AO. www.funcom.com/wsp/funcom/frontend.cgi
I miss DAoC
Ahh as it seems I was very misinformed.
None the less I didn't think AO has that bad of a release. It wasn't perfect, but it was better then UO's release, and EQ's. Atleast for me anyway.
I think Funcome cant manage to hold the release date at all. As said before it orignal launch was the sommer 2006 and then it was change to winter 2006. Then later the sommer 2007 and now this.......
I think Funcome is coming to the edge where is no money left. Age of Conan should have release a long time ago and now it seems they are at least 2 years behind the production and development.
For me, There is 3 way for Age of Conan so far.
1) Its released to October (filled with bugs and errors).
2) Its skipped in Year 2008 at some point maybe Q2 or Q3.
3) Its cancel.
There is no way they would cancel at this point, the game has come way too far and is late in development. They would lose far more money cancelling than they would releasing what they have, even if it was buggy.
With past games, fans have shown that there is enough people willing to pay for buggy incomplete software to warrent releasing in such a state. This is not good for the industry but it is how it is. Even Vanguard was able to stay afloat, if they can do it anyone can.
I am in no way saying AoC will be buggy at release. Just that even if it WAS, they would sooner release it buggy than cancel it, period. So I wouldn't have even listed cancelled in there.
VAN
GUARD.
no company is going to push the game before it's ready anytime soon because of the trainwreck that i am enjoying playing has been.
"We aren't going to ... Period. End of statement."
ya. ok. whatever.
but what do i know, i'm only a vanbois i'm told.
The mere thought of them canceling this game is ridiculous. They would lose everything they have invested to this point. Not to mention, having a game that is this far along, and this watched by the public canceled would seriously bring funcom's ability to create a game into question. Any chances they would have for future third party investment capital would be gone. Even if it did end up being buggy, Vanguard bad even, they would atleast recoup some of the money at release. Do I think this will be another vanguard? No way. I think part of the problem is that so many people where duped by Mcquad and what he was selliing that now they worry that it will happen every time. Ultimately I think conversations like this will continue until the game is released. Unlike WAR, there isn't tons of information coming out. Because of that, people's imaginations (mine included) tend to run wild to the worst case scenarios.
True there is no chance in hell that Age of Conan will be cancelled. There's way too much hype and time invested in it. So now i'm thinking it will be released around Christmas or early 2007.
You can't say that civilization don't advance, however, for in every war they kill you in a new way.
-Will Rogers
...or maybe early 2008
I don't think it will be cancelled or pushed though. None of those options seem viable for FunCom after the AO release. If they had another botched release people would lose all faith in them, and no investor would touch them with a hot poker.
No, I think release will go ahead as scheduled, with bug fixes and updates coming heavily in the start, as with any other MMORPG out there.
Funcom AS announced that they will report Q2, 2007 results on July 26, 2007. After that meeting Funcom share price was down 4.65% after the this was announced on 06/26/07.
Then June 27, 2007. Funcom completed a private placement and through this received additional funding of approximately 30 million USD.
The way I look at it, then Funcom had run out of investment back in July, but thanks to stubborn share holder, Funcom manage go gain a additional 30 million to aid the company. But of cause it two years behind the orignal release. So its a costly affair. Its a high Texas Hold´Em with a huge risk at this moment. I would have pulled the plug right now. However some share holder believe still in this game.
Link: http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?symbol=FUNCOM.OL
Beat you by less than a second with the link
Your like so far in the past. Lets RETHINK this with some TRUTH instead of skewing the facts...
"Funcoms last MMO, City of Hero's, had the most successful launch of any MMO in history. Game magazines prized it as a masterpiece executed with precision, and elegance"
Dude.....what? City of Heroes is Funcom's? Since when?
Funcom still only has AO and with the release it had, they have to get AoC right on release.
Funcom has not fantastically prolific during these last six year, but the few games it produced still stand the test of time at least for now. KS Teknoinvest VII have already pulled the plug and sold there 3.24 million share holding. At this point I am sure, but about 60-70 millions USD was taken out of Funcom AS by KS Teknoivest VIII.
In your opinion, why did Funcom Ireland eventually close?
Why did Anachy Online last expand pack get cancel and got a tiny patch instead
Why did Funcom Dublin’s only Xbox project "Jet Sprint MX" was cancel
And the answer is; Age of Conan and have already consumed the project money and Funcom tried to transfer capital from there other deparment by shuttting them down, and now they need even more in a almost futile attemp to get it release, sadly. The mostly likely release for AoC will be 1 March 2008
I can make a PDF and link it, if somebody want to read the Funcom general meeting of shareholders.
Its not a theory, just facts and beside its been delayed for two years now.
Q2/2006 more than 1Mio $ loss (with income 2,6 Mio $ from Dreamfall) - for me it is about 3,5 $ loss each quarter you don't have extra income from other products.
Q3/2006 = 3,5 Mio $ loss
Q4/2006 = 3,5 Mio $ loss
Q1/2007 = 3,5 Mio $ loss
-----------------------------
total about 10 Mio $ loss until 31.March 2007
(and 2/3 loss from the delay)
Any arguments against ?
If not - then we all have the information we need and this thread can be closed ...
It's not really so much about the money as to why Funcom is holding back. It has to do with the release of Anarchy Online. Honestly, can you imagine the repercussions of what will happen to Funcom if AoC doesn't release in a solid, stable state? When AO released in 2001, it was the worst release of an MMO to date. It still rates as the number 1 worst MMO release I personally had ever experienced. I purposely didn't get involved in the Vanguard release because I saw another AO type release happening. Funcom knows this. They understand what will happen if AoC shows anything like what AO did on release. They saw what happened to Vanguard when it was released. And I actually have respect for them holding it back to make sure it releases well. I don't want to see Funcom fail, I am rooting for AoC to be a successful game. I personally won't pre-order it nor buy it the day it releases due to what I experienced with Anarchy Online and the fact Funcom has to earn back my trust. That doesn't mean I am against Funcom. I really do want them to succeed.
I agree and his interepretation of the information linked is wrong too. Bare with me and i'll show you why.
Further more he failed to neglect to say that Funcom has generated 11 million gross profit over those 4 quarters his listed.
After all operating income for those 4 quarters we listed as
Which overall provided: $2,5 income for those 4 quarters listed.
Financial Statement for the Quarterly Income Statements commented on:
Compared to the same quarter last year, Funcom N.V. has seen net income shrink from a gain of $612.0K to a loss of $204.0K despite relatively flat revenues. A key factor has been an increase in the percentage of sales devoted to SGA costs from 111.42% to 146.07%.
What our war friend/troll Battlekruse failed to mention or even look at too was the Quarterly Balance sheet statement on the same site he linked - let me post what it says:
Financial Statements for Funcom N.V.
To statement posted on said site and copied here above is pretty unstandable. I.E. LOW FINANCIAL RISK, Sales still outstanding to be posted, hence the quarterly report due in 4 days time. It doesn't say that there aren't revenues just that it implies there aren't being collected effiiciently.
Also there 4 quarter trend for the same period, taking into account their liabilites and equity (in + $millions):
Looks pretty stable to me over the last 4 quarters..
"In 2006, CFF (Cash Flow from Financing) was negative, which tells investors that this company did not need to attract significant financing from outside sources."
Growth over prior year in Gross Profit as an Industry Comparison = 108.01%
Total Revenue over prior year = 78.29%
Oh btw Battlekruse did you even bother to click the yearly reports? In my experience these show how a company stands up more that the last 4 quarters. hmmm for the sake of it here are the comments made by the website link you posted concerning the last 4 years;
Income Statement Comment:
Financial Statements for Funcom N.V.
Year over year, Funcom N.V. has been able to grow revenues from $5.3M to $10.8M. Most impressively, the company has been able to reduce the percentage of sales devoted to income tax expense from -0.11% to -24.36%. This was a driver that led to a bottom line growth from a loss of $1.6M to a gain of $3.3M.
Balance Sheet Statement:
Financial Statements for Funcom N.V.
Finally the Cash Flow Statement:
Financial Statements for Funcom N.V.
Has the game been delayed for two years now??? where is your proof? From a Press Release:
"Funcom and Conan Properties LLC jointly confirmed the in-development status of Age of Conan in an official press release on April 20, 2005" It was only 2 years ago they officially announced the game Troll... And this time last year they announced their publisher Eidos.
I would like to apologise for posting so much, but the link is there for everyone to see for themselves. Battlekruse has no interest in AoC whatsoever and takes any opportunity he can to slate it. Worst of all he slates their financial history with his totally out of focus and hate for the game. He didn't post all the facts and I thought it would be necessary to post them here. I don't like seeing misinformation.
The facts are:
Funcom is a proven financially stable company
Funcom has assests over $60 million
Whenever, the game is going to be released on time 30th October 2007 or whenever, the playing public will be the judge on how good it is.
Battlekruse is a troll, and an AoC hater, He posted up non factual and not the whole story in a further attempt to put Funcom and AoC down, he is also the lover of a game which will compete with AoC for subs at some point = war. (what does this tell you?)
But, the main point is, the company is stable enough to put out a game, there is no financial constraints atm. The development / Beta testing has never been hinded by any constraints of any financial type because there were none.
Meh..they always release either around thanksgiving or christmas. There have been few that released any other time, and if they have its probably because they are trying to grab a subscription base before the big dawgs come out to play for the christmas rush.
D.
VAN
GUARD.
no company is going to push the game before it's ready anytime soon because of the trainwreck that i am enjoying playing has been.
Your totaly wrong. Q3 is the best Release time for new software and Hardware. Why do you think more gets released in Q3 then any two other Quaters? Because everyone HAPPENS to finish in Q3? Because Investers want them to HOLD it and not make money for a few extra Months? No, Because they'll do whatever they've got to do to make a Q3 Deadline. Hopefully that includes working overtime and getting it ready.
AmazingAvery I loved that post. I love when people provide FACTS. Everyone here has a different oppinion and I hardly care what they are sometimes. (Sometimes I do.) But I always enjoy cold hard FACTS.
Vanguard FLashback, anyone?
Besides of that, isn't Hellgate London supposed to come out sometime late summer? Or has it been pushed back as well?
I didn't think "Battle" was trying to say down with Funcom, but rather they would lose a noticeable amount of money by not releaseing. The ever present Dollar will alwayd dictate. Q3 is the best time to release. They are near completeion. Things are Ideal for them to aim for a Q3 Release.