Star Vault: Notice of Extraordinary General Meeting

Slapshot1188

Looks like SV is having an "Extraordinary" meeting with the stockholders to try and raise more cash (Jan 13th):

The Board proposes that the AGM resolve in order to enable the Board to provide the company with working capital to authorize the Board, during the period until the next AGM, to decide on the issue of a maximum a number of shares and / or convertible bonds and / or warrants entitling to convert to each new subscription, or involves the issuance of a maximum a number of shares to an amount not to exceed 2 million (total proceeds), with or without preferential rights and with or without consideration in kind or provision of the shares and / or convertible bonds and / or warrants shall be subscribed by set-off rights or other terms.

 

2 million SEK = around $290k

 

It will be interesting to see what they force each shareholder to pay (or dillute their shares) this time.  OUCH!

http://www.aktietorget.se/NewsItem.aspx?ID_News=60705  Swedish

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.aktietorget.se%2FNewsItem.aspx%3FID_News%3D60705&act=url  Translated

 

darthturtle1

I would like to translate from the Swedish for you.

 

We are out of money.  We need to dilute the worthless stock even more. 

End of meeting.

[Mod Edit]

Tacan

yeeeyyyy, 2011 last MO year

kakasaki

Hope the shareholders aren't too gullible...

[Mod Edit]

Slapshot1188

Hmm.. reading it again I can't tell if it's 2,000,000 shares or 2,000,000 SEK worth of shares.

darthturtle1

It is 2 mill shares.  I do not even think all the shares are worth 290k usd.

Gerolt

Bahaha, little Henrik thinks he's found an inifinite money dupe.

blurtblurter

This is how it happens, Devs cater to the loud and obnoxious, company fails as game becomes anti-social.

Awesome concept (actually best concept I've seen since UO), lead simply hasn't got the expirence in business.

It's a real shame as I really want to see this title work.

osmunda

Financial legalese + Swedish to English translation = very difficult to follow

If I understand correctly they are calling a meeting to authorize the board to issue (up to) 2 million new shares.  This would be in addition to the 28 million class B shares already issued. This would reduce the value of existing shares by (up to) 8 % in exchange for generating some operating capital. If this understanding is correct, this is certainly not good news from the business side of things (

I don't believe anyone on this forum has argued that Starvault was a good investment, just that they deserved more credit for what they have been trying to do and that at least some of the attacks/criticism were unwarranted.

@ Tacan : Since the meeting isn't until January 7, 2012, you are incorrect.

Tacan

Originally posted by osmunda

Financial legalese + Swedish to English translation = very difficult to follow

If I understand correctly they are calling a meeting to authorize the board to issue (up to) 2 million new shares.  This would be in addition to the 28 million class B shares already issued. This would reduce the value of existing shares by (up to) 8 % in exchange for generating some operating capital. If this understanding is correct, this is certainly not good news from the business side of things (

I don't believe anyone on this forum has argued that Starvault was a good investment, just that they deserved more credit for what they have been trying to do and that at least some of the attacks/criticism were unwarranted.

@ Tacan : Since the meeting isn't until January 7, 2012, you are incorrect.

ok,2012  last  MO  year 

darthturtle1

Originally posted by osmunda

Financial legalese + Swedish to English translation = very difficult to follow

If I understand correctly they are calling a meeting to authorize the board to issue (up to) 2 million new shares.  This would be in addition to the 28 million class B shares already issued. This would reduce the value of existing shares by (up to) 8 % in exchange for generating some operating capital. If this understanding is correct, this is certainly not good news from the business side of things (

I don't believe anyone on this forum has argued that Starvault was a good investment, just that they deserved more credit for what they have been trying to do and that at least some of the attacks/criticism were unwarranted.

@ Tacan : Since the meeting isn't until January 7, 2012, you are incorrect.

Issuing more shares for a company that is in the red is actually one of the worst and desperate things you can do.  It may give you some money but in the long wrong it devalues the company and stock even more.  I am sure there will be more than an %8 drop in price when all is said and done.

The big question and we all know the answer is.  If they do get a little more money to work for 4-6 more months will they actually be able to turn the company around?  Because this is a last ditch effort.  Printing money like this is making a bet that you will be profitable by the time the money runs out.

raff01

They're running out of money and going for broke.

Slapshot1188

Originally posted by Gerolt

Bahaha, little Henrik thinks he's found an inifinite money dupe.

 Well.. you actually may be closer to the truth than you think!

 

From what I recall Henrik has special shares that have extra voting rights and thus controls more than 50% of the votes in the company... so no matter what everyone else votes, Henrik can push the measure through.

 

If someone knows differently please feel free to correct me.

 

PancakeEffct

Why don't they just change some things around here and there and make it actually fun to play...I guess in order to make it "fun"  it takes away from the hardcore element for the  "hardcore" players acording to their logic (which I dont agree is true). 

 

There is a reason they are failing...it's simply not fun to play. If they fixed that they don't have to have these type of meetings.

 

But yet Henrik doesn't grasp that, and they keep implmenting grinding features that make them lose half their subscription base with each patch.

deathshroud

Originally posted by PancakeEffct

Why don't they just change some things around here and there and make it actually fun to play...I guess in order to make it "fun"  it takes away from the hardcore element for the  "hardcore" players acording to their logic (which I dont agree is true). 

 

There is a reason they are failing...it's simply not fun to play. If they fixed that they don't have to have these type of meetings.

 

But yet Henrik doesn't grasp that, and they keep implmenting grinding features that make them lose half their subscription base with each patch.

 i agree theres a few "minor" changes and additions that would greatly improve the overall experience for new players. take the recent nodeline fix as an example. I mean it was a simple server side fix to an issue thats been a problem for way to long that could of been fixed a long time ago if they had dedicated abit of time to it.

 

 

But you completely lost me when you said "grinding features" because im now sat here thinknig of all the mmos i have palyed and i honestly cant think of a single one with less grind than MO. MO has the least grind out of the 10mmorpgs i have played in my lifetime. I have never felt like i was grinding anything in MO except armor training which took a whole day and a half. That was the biggest grind i have ever had to face in MO compared to UO or EQ2 etc its nothing..

PancakeEffct

Compared to a level system MMO yes there is less grind for an MMO. But the thing is...with those games grind doesn't seem so tideous. With MO by grind I mean it's the little things.

A great example of this is the food system.....I was really looking forward to it being that I  personally add "hardcore" food mods to all my games such as the elder scrolls series. But leave it to MO to make my one most anticipated feature be complete garbage. They turned eating into this horrible grinding mess that is not fun at all. 

As a solo player, you will have a unimagninable amount of grind in MO. Heck finding armor is a form of grind in itself. If you don't live in a populated city you will never find armor if you don't have a second account with a crafter on it.While yes the base character attibutes such as gaining skills etc are fast.. everything else is not. 

But honestly I rather have a slow character progression than have my everyday stuff be in some form or another have huge amounts of grind incorporated into it.

 

 

Toferio

Originally posted by deathshroud

 

But you completely lost me when you said "grinding features" because im now sat here thinknig of all the mmos i have palyed and i honestly cant think of a single one with less grind than MO. MO has the least grind out of the 10mmorpgs i have played in my lifetime. I have never felt like i was grinding anything in MO except armor training which took a whole day and a half. That was the biggest grind i have ever had to face in MO compared to UO or EQ2 etc its nothing..

 

I think the issue is that MO is extremely bad at rewarding the player. All the hate and love aside, let's be realistic here. When I get something in WoW, it is obvious to me that the said item is better, I feel the improvement in terms of numbers. MO lacks that clear progression, when I was playing MO an iron armor felt same way to me as player as let’s say kronite armor. They look almost same, and I rarely see my character anyway, so there is no clear progression, leaving a more casual /new to the game player feeling unsatisfied.

 

When I learn a skill in WoW, it is a clear feedback as well. Cool animation and cool effects  when I use it. In MO, it is a minor improvement to some under the hood math calculating my skill level versus the opponent. In MO, the huge skill tree, the huge amount of choices when crafting (and 99% of them being useless combinations) felt very overwhelming and unrewarding.

 

You think that the flashing animation when you level is stupid fluff in WoW? No, it is all calculated design, to make give player satisfaction of achievement. It may not work on you, or me, but it works on the 99% of other players and is an important part of design MO failed to realize.

 

As for grind.. I dunno. When I enter MO, to me it seems having no end to the skill and armor grind, while in WoW I have a clear limit to it of level cap and current raid. You could max you character in couple of weeks in WoW, if you know what you are doing.. but I guess the same applies to MO. But the lack of feedback is the crucial difference. As the above poster also mentioned, the grind is lot less tedious in themeparks. In MO you swing your axe at a stone,process it, then spend 10 minutes at spreadsheet UI calculating best armor and then you have the armor. It feels extremely unrewarding. However when same armor comes from a dragon you slaid (even if it's for 100th time) it is another feeling, imho.

 

Grind overall in themepatks is lot more entertaining than in MO. You quest, play battlegrounds, raid, in order to progress one single attribute, your level, with a clear feedback. In MO you repeat same skill over and over (such as swinging said axe or riding a horse) with no clear feedback of improvement and no clear finish. Again, you might not feel that, but I think that's the dealer breaker for the majority of players who are new to MO.

Najwalaylah

Add "stockholder's meeting" to "rendition" on the List of Terms You Don't Want To See 'Extraordinary' In Front Of.

Biskop

Originally posted by Toferio

 

Grind overall in themepatks is lot more entertaining than in MO. You quest, play battlegrounds, raid, in order to progress one single attribute, your level, with a clear feedback. In MO you repeat same skill over and over (such as swinging said axe or riding a horse) with no clear feedback of improvement and no clear finish. Again, you might not feel that, but I think that's the dealer breaker for the majority of players who are new to MO.

I have to agree. While MO's system looks great on paper, the game lacks all the features that make "skill-based" progression feel worthwhile.

For example, in a TES game, leveling your skills does not feel grindy because you do it while you experience cool adventures in a varied world. In MO, using your skills means whacking away at a rock for hours, clicking ugly buttons in an ugly UI, staring at timers, or fighting bugged out mobs that mainly consist of dull-looking animals. Getting your PvP skills up usually involves an exploit or two, plus a macro so that you can leave your computer on overnight and wake up to a toon with maxed stats + armor and weapon skills.

And what do you do with this maxed-out toon anyway? Ride around the empty world looking for a fight with the same 20 people you fought yesterday?

DecoyTrooper

surprised they haven't pulled the plug

PancakeEffct

Originally posted by Biskop

Originally posted by Toferio

 

Grind overall in themepatks is lot more entertaining than in MO. You quest, play battlegrounds, raid, in order to progress one single attribute, your level, with a clear feedback. In MO you repeat same skill over and over (such as swinging said axe or riding a horse) with no clear feedback of improvement and no clear finish. Again, you might not feel that, but I think that's the dealer breaker for the majority of players who are new to MO.

I have to agree. While MO's system looks great on paper, the game lacks all the features that make "skill-based" progression feel worthwhile.

For example, in a TES game, leveling your skills does not feel grindy because you do it while you experience cool adventures in a varied world. In MO, using your skills means whacking away at a rock for hours, clicking ugly buttons in an ugly UI, staring at timers, or fighting bugged out mobs that mainly consist of dull-looking animals. Getting your PvP skills up usually involves an exploit or two, plus a macro so that you can leave your computer on overnight and wake up to a toon with maxed stats + armor and weapon skills.

And what do you do with this maxed-out toon anyway? Ride around the empty world looking for a fight with the same 20 people you fought yesterday?

I wonder what MO would be like if it was more like TES (I guess one would argue it's more carebear) but if more carebear means more fun I dont give a shit. Because MO simply lacks the fun factor.

I can't count how many people got MO thinking it was going to be essentially TES Online, only to unsubscribe the next month later.

Believe me if they did make it more like a hardcore TES, I bet Nave would be overflowing with people, Henrik would be a rich bitch, and all would be happy. But I guess that goes against the philophsy of what this game was meant to be.. boring.

Biskop

Originally posted by PancakeEffct

I wonder what MO would be like if it was more like TES (I guess one would argue it's more carebear) but if more carebear means more fun I dont give a shit. Because MO simply lacks the fun factor.

I can't count how many people got MO thinking it was going to be essentially TES Online, only to unsubscribe the next month later.

Believe me if they did make it more like a hardcore TES, I bet Nave would be overflowing with people, Henrik would be a rich bitch, and all would be happy. But I guess that goes against the philophsy of what this game was meant to be.. boring.

Yeah... SV and some of the fans seem to suffer from the delusion that boring, grindy features and a major lack of interesting content = hardcore. But at the end of the day, "harcore", "carebear" and whatnot are just words. They do not make games fun or boring, content does.

I'm really looking forward to the Tytanis mod btw, if those guys manage what they have set out to do, it will essentially turn Skyrim into the game MO could have been.

Slapshot1188

I wonder if it is a coincidence that SV announced a so-called expansion (with no estimated release date) on the same day that they had to hold the "Extraordinary General Meeting" of stockholders to get authorization to potentially dillute the stock further and try and put another 2000000 shares on the market.

 

Somehow I doubt it.

 

Anyhow... they did agree to allow their shares to be further dilluted so we will see what happens to the stock now:

http://www.aktietorget.se/NewsItem.aspx?ID_News=60797 

 

GMTheia

Originally posted by Slapshot1188

I wonder if it is a coincidence that SV announced a so-called expansion (with no estimated release date) on the same day that they had to hold the "Extraordinary General Meeting" of stockholders to get authorization to potentially dillute the stock further and try and put another 2000000 shares on the market.

 

Somehow I doubt it.

 

Anyhow... they did agree to allow their shares to be further dilluted so we will see what happens to the stock now:

http://www.aktietorget.se/NewsItem.aspx?ID_News=60797 

 

 

erm... no, we've been talking about this for weeks / months!  We've known this has been coming for some time - the timing is more to do with the progress of AI than anything else.  Progress on this feature has been more rapid than originally thought. Which is good because then we'll be testing earlier than though and then rolling out earlier than thought!t 

Yes of course, we will be very carefully testing - since the Mortal Pulse I've had many new people apply to become testers so we'll be using as many people as possible when the times comes. 

 

Slapshot1188

Originally posted by GMTheia

Originally posted by Slapshot1188

I wonder if it is a coincidence that SV announced a so-called expansion (with no estimated release date) on the same day that they had to hold the "Extraordinary General Meeting" of stockholders to get authorization to potentially dillute the stock further and try and put another 2000000 shares on the market.

 

Somehow I doubt it.

 

Anyhow... they did agree to allow their shares to be further dilluted so we will see what happens to the stock now:

http://www.aktietorget.se/NewsItem.aspx?ID_News=60797 

 

 

erm... no, we've been talking about this for weeks / months!  We've known this has been coming for some time - the timing is more to do with the progress of AI than anything else.  Progress on this feature has been more rapid than originally thought. Which is good because then we'll be testing earlier than though and then rolling out earlier than thought!t 

Yes of course, we will be very carefully testing - since the Mortal Pulse I've had many new people apply to become testers so we'll be using as many people as possible when the times comes. 

 

Read what I wrote... then read what you responded.

 

Your response in no way shape or form invalidates what I said.  Moreso.. anyone looking would easilly see that it's no coincidence that you would announce a so-called expansion on the same day Henrick had to ask the stockholders to furtehr dilute their shares to try and raise more money for the company.  Trying to argue otherwise is quire transparent.

 

As for your second part... I have no doubt that the so called expansion will release earlier than you thought, and it will likely be just as incomplete, buggy and unsatisfying as the DAWN expansion which preceded it.

 

Don't over hype and under deliver.   Over deliver, build credibility, and then talk about promises, hopes and dreams.  As of now you have zero credibility when it comes to things promised at some vaguely defined time in the future.

 

GMTheia

Originally posted by Slapshot1188

Originally posted by GMTheia

Originally posted by Slapshot1188

I wonder if it is a coincidence that SV announced a so-called expansion (with no estimated release date) on the same day that they had to hold the "Extraordinary General Meeting" of stockholders to get authorization to potentially dillute the stock further and try and put another 2000000 shares on the market.

 

Somehow I doubt it.

 

Anyhow... they did agree to allow their shares to be further dilluted so we will see what happens to the stock now:

http://www.aktietorget.se/NewsItem.aspx?ID_News=60797 

 

 

erm... no, we've been talking about this for weeks / months!  We've known this has been coming for some time - the timing is more to do with the progress of AI than anything else.  Progress on this feature has been more rapid than originally thought. Which is good because then we'll be testing earlier than though and then rolling out earlier than thought!t 

Yes of course, we will be very carefully testing - since the Mortal Pulse I've had many new people apply to become testers so we'll be using as many people as possible when the times comes. 

 

Read what I wrote... then read what you responded.

 

Your response in no way shape or form invalidates what I said.  Moreso.. anyone looking would easilly see that it's no coincidence that you would announce a so-called expansion on the same day Henrick had to ask the stockholders to furtehr dilute their shares to try and raise more money for the company.  Trying to argue otherwise is quire transparent.

 

As for your second part... I have no doubt that the so called expansion will release earlier than you thought, and it will likely be just as incomplete, buggy and unsatisfying as the DAWN expansion which preceded it.

 

Don't over hype and under deliver.   Over deliver, build credibility, and then talk about promises, hopes and dreams.  As of now you have zero credibility when it comes to things promised at some vaguely defined time in the future.

 

 

No arugment is required - i clearly stated this has been planned for some time - it's up to you if you don;t want to take that on face value and attempt to imply that there was another agenda. There wasn't that's all there is to it.  Your belief is not required to make this the case. It simply is.