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Funcom fraud and deceiving investors
Arthousesig
Member Posts: 305
Funcom is publicly saying:
- 415.000 customers per 14th August - source: Investor presentation
- BUT 415,000 customer number is from 30th June - source: Q2 financial report
One of these 2 is incorrect and I'd be willing to bet it's the August one since everyone quit during July and early August
I'd love to hear a clarification on this as to why the 2 numbers are the same because this actually appears to me to be fraudulent reporting to investors
Comments
I want to see what happens when this posted on official aoc boards.
It is fraud. But the problem is, it's a Q2 report, so they can say that.
Wait till the Q3 report comes out and one of the Shareholders asks FunCom the current subscription numbers.
Funcom says they won't give out numbers anymore. But when a shareholder asks for it here in Norway. Due to the transparancy law they are forced to give it haha.
So just wait for the Q3 report and the truth will come out then.
It all comes down to a simple delaying execution. It will be extremely hard for them to merge servers, due to the limited Battlekeeps mechanic. Altho I hardly doubt many servers have a max number of Battlekeeps seeing the amount of grind involved to get one.
So we will gonna see Mergers soon anyway. If Funcom wants to have any chance in surviving and keeping the customers that are still left, they will have ot figure out a way to merge, or people will leave, because they feel lonely on their server.
Plus, even more important, the sheer costs involved in maintaining Game Servers that have a very very low population.
Cheers
But Funcom just reported it's customer number as "415,000 as of August 14th" in their investor presentation
This is fraudulent reporting since the number is from a Q2 report for 30th June
I doubt they will ever let their common sense over ride their egos long enough to do server merges.Look at SWG and how long it has needed merges but SOE's ego won't recognize it. Server merges would be in the best interests of both games and might even save some customers but the cost on their egos is too high.
I miss DAoC
If the latter is from this report (third point under Summary, 4th point under Age of Conan highlights), it says "currently", and the report is dated August 14th.
If a Q2 report has to contain player numbers only from June 30th, or I missed some line saying those 415k+ were on June 30th, please feel free to point out the quarterly report rule (reliable source, please) or the line I missed.
Damage reduction of funcoms part.
Legaly they have to release the Q2 report,
that is the actual state of the company as a snap shot from that moment in time ie 30th june.
so brains at funcom think oh ***** what will our gamers and investors think.
so they release a non leagaly binding Power point presentation.
AKA the Comical Ali financial presentation. yes the figures are per aug 08!!!! honest!!!!
fanboys and girls flock read the PRESENTATION and run round its true were not sinking.
If the latter is from this report (third point under Summary, 4th point under Age of Conan highlights), it says "currently", and the report is dated August 14th.
If a Q2 report has to contain player numbers only from June 30th, or I missed some line saying those 415k+ were on June 30th, please feel free to point out the quarterly report rule (reliable source, please) or the line I missed.
"The unaudited interim condensed
consolidated financial statements of the Group for the six months ended 30 June 2008 were approved for
issue by the supervisory board on 14 August 2008."
appendix
If the latter is from this report (third point under Summary, 4th point under Age of Conan highlights), it says "currently", and the report is dated August 14th.
If a Q2 report has to contain player numbers only from June 30th, or I missed some line saying those 415k+ were on June 30th, please feel free to point out the quarterly report rule (reliable source, please) or the line I missed.
Q2 report is a snap shot of the financial situation of a company to its investors at a set point in time.
IE june 30th. you cannot add information after this date as it is not correct info as of the moment of the audit.
Not being difficult, but I don't know financial talk much.
Does that line mean all numbers in the report are as of June 30th, or only that the financial (cash) numbers are per June 30th? If all numbers have to be as of June 30th, I find it strange that a term like "current" can even be used in such reports without clarifying hat "current" refers to June 30th and not the day the report is dated.
Not being difficult, but I don't know financial talk much.
Does that line mean all numbers in the report are as of June 30th, or only that the financial (cash) numbers are per June 30th? If all numbers have to be as of June 30th, I find it strange that a term like "current" can even be used in such reports without clarifying hat "current" refers to June 30th and not the day the report is dated.
that's exactly what I mean
Not being difficult, but I don't know financial talk much.
Does that line mean all numbers in the report are as of June 30th, or only that the financial (cash) numbers are per June 30th? If all numbers have to be as of June 30th, I find it strange that a term like "current" can even be used in such reports without clarifying hat "current" refers to June 30th and not the day the report is dated.
Thats how a lot of financial statements are done. Companys will pick a place in time, as that is the latest verified numbers of there fiscal quarter. And a lot of the time they will go back in the midst of the 3rd quarter( in this case) and refine the numbers.
The main reason is that 2nd quarter payments will keep coming in even after the start of the 3rd quarter.
Haradek Shadowstalker
EQ,EQII,SWG,AO,DAOC,Planetside,COH,WOW
I doubt they will ever let their common sense over ride their egos long enough to do server merges.Look at SWG and how long it has needed merges but SOE's ego won't recognize it. Server merges would be in the best interests of both games and might even save some customers but the cost on their egos is too high.
Agreed. I can't see Funcom in all their arrogance swallowing their humble pie and doing whats in the customers best interest and merging servers.
Not being difficult, but I don't know financial talk much.
Does that line mean all numbers in the report are as of June 30th, or only that the financial (cash) numbers are per June 30th? If all numbers have to be as of June 30th, I find it strange that a term like "current" can even be used in such reports without clarifying hat "current" refers to June 30th and not the day the report is dated.
If you look the report has many dates.
August 14th is the release date of the information as stated in the " funcom risk overview " previously released.
August 14th is also the date it was authorised to be released and signed off.
june 30th was the audit date ( which facts and figures were collected and based upon ).
june 30th was the end of Q2 which if you look the first page is report Q2. august is in Q3 not included in this report.
the term " current " is current at the time the figures were collected.
Eg if i write a book at the time of the facts i put in it is Current, but if i publish my book 1 year on it would still say current data, this is was current at the time of writeing.
Also you cannot go on the information in the presentation.pdf as fact,
I quote " Steady revenues from Anarchy Online and Plutolife. "
Funcom has actualy sold Plutolife to another company earlier this year, so they no longer have steady revenues from this.
" 28 Jul
Australian mobile content firm Jumbuck (ASX: JMB) scooped up Plutolife AS
, another mobile social networking company, in an acquisition valued at $3.7 million,
Mobile Entertainment
reports. Plutolife was the subsidiary of Swiss-Norwegian games developer Funcom, which is based in Oslo"
I think it's pretty to say that Funcom currently has 415k customers (that number include those that still are in their "free" period). Funcom boss Trond Arne Aas say it's a good number (sorry, it's Norwegian) and that people usually jump on and off the game. Statistics from Anarcy online shows than in average a gamers has returend 5 times.
---
And when we got more women on the team, it was like No, no, no. We need puppies and horses in there.
John Smedley, SOE
We all know the numbers mean something though..
400k people had 6 month scrips that do not end until December. These were the people who LOVED Tortage.
Enuff said
Returned eh? I think he is just getting his hopes up. After burning players (customers) so badly i highly doubt many will ever give funcom another look, let alone AoC. I know personally i'll be staying as far away as possible from that stench that is funcom.
Is 415k the new 700K?
Fungerer som det skal
Agree. I have erased AoC from my harddrive and dumped the game boxes deep down in the basement to die in a lonely corner, never to be picked up again.
Yeah, this is pure spin. The salesnumbers are slowing down very fast and to expect a customer to return on average 5 times is wishful thinking at best, trying to deceive your investors at worst.
---
And when we got more women on the team, it was like No, no, no. We need puppies and horses in there.
John Smedley, SOE
OK one thing that will keep the numbers up for quite some time. A lot of people use Game cards.. Frankly, I do not trust the game companies to end my accoun when I tell them to, a game card do it for me. When I trust a game company, then maybe I will give them my credit card to play with.
In AOC, if you use a game card, you have to enter the game card when you start the account, meaning you do not have a free month before you can deside, you have one free month and 2 paid months.. 100% of the card users have 3 months of playtime registered. What does that mean..? End of september somewhere? THEN you will see the huge drop, when the game card users cards expires and only 2% of them buy another one.
___________________________________________________
Anatomy of a Fanboi
This is you.
uk.finance.yahoo.com/q
OUCH, I wonder if the 20 percent fall had anything to do with Q2 report.
and it's still dropping........
The AoC Titanic has hit a Lieberg and is going down man the life boats.
woah and I come back after a few hours and find this
16.30
4.20 (20.49%)
Looks like investors might have seen through the Funcom fraud
That's 1/5th of the entire company gone in one morning
Shortly, if not VERY Shortly after I cancelled my account , I was then SUMMARILY banned from the forums. I can still access the game and I am going to be charged for the full length of my foolishly chosen 6 month SUB. Interesting that within minutes I was
BANNED: FOREVER
-Lum
When you use a credit card , if youve chosen a 6 month sub, like I did at launch they continue to charge you through that period and give you game access. But given that if you pwn some newb in pvp you get banned when you are reported by a cry baby, there is no clarification here. you choose 6 months, cancel in that time, even if they ban you from the forums they continue to charge your card.
-Lum