It's amazing. Cobra recently said Funcom had 6M in profits last quarter and it has 36M in cash in the bank. Yet someone could buy the entire company for 20M right now. Seems to me something is wrong.. Why wouldn't someone just pay the 20M for funcom, then take the 36M out the bank (wooohoooo 80% profit in one day) and then collect the 6M every 3 months.
Well you know which variable in that equation is off
Take your pick
a) Cobra
b) quarterly report
c) a&b
Reports can be "creatively produced" as the recent finanacial activity in the US shows and Cobra is Cobra.
... Seems to me something is wrong.. Why wouldn't someone just pay the 20M for funcom, then take the 36M out the bank (wooohoooo 80% profit in one day) and then collect the 6M every 3 months.
Probably because most companies have ongoing legal and financial obligations they must meet by law.
Even when you 100% own a company you may not simply withdraw all the cash.
In the case of Funcom - the people who purchased 12 month subs are entitled to 12 months of service - that means that Funcom must continue to operate (if at all possible) and that means wages, salaries, overheads and provision for redundancy payouts must be held in reserve (if possible).
The only way out of this is to actually go bankrupt.
SCi share price has slumped 92 per cent to, but you know thats not just one game they publish is it
actually SCi's drop is about 88%. The biggest drop was back in January when it suffered a overnight 62% drop when it announced that takeover talks had ended.That company had some good titles such as Deus Ex, Hitman and of course the old Tomb Raider games back in the 90's and early this decade but hasn't had much else to brag about for several years now. Kane and Lynch was not exactly a runaway hit and that is the last title I can remember from them.
As I keep pointing out FC's drop happened just after the release when people refused to subscribe and the population dropped like a rock. You got to look at the time line and see what events precipitated the changes, things usually happen for a reason. SCi's was because they canceled takeover talks. Other game companies that have had drops in September when most stocks had a drop
Comparing Funcom to Eidos is like saying yeah our stock sucks but theirs does too. Anyway you cut it both companies stock sucks for the same reason, they have been releasing crap games. At least Eidos had some pretty big hits a few years back , which is more than FC will ever be able to say.
By the way for the monetarily challenged that chart is in GBX or pence sterling and in USD 19GBX is about 29 cents
Your post makes a lot of sense. People do tend to sell stocks of a company they think is gonna fail or not doing so well. And if everyone is selling and nobody is buying, then the price is going down. Don't really need much more explanation cause you hit the nail on the head with yours.
Todays close. 2.75 not looking so good. But like I said before, they could air the removal of the servers from the server hotel on live international tv and the fanbois would have a reason that it wouldnt have any effect on the game.
I don't know if Funcom will go bankrupt or not. Seems like they have a lot of investors. Me personally, I have a open ended order $1,000 to buy if the price goes to .001 cents a share. 1,000,000 shares would make me a major share holder in Funcom and there is a certain PR guy I would move to fire.
Fear not fanbois, we are not trolls, let's take off your tin foil hat and learn what VAPORWARE is:
"Vaporware is a term used to describe a software or hardware product that is announced by a developer well in advance of release, but which then fails to emerge after having well exceeded the period of development time that was initially claimed or would normally be expected for the development cycle of a similar product."
2.75?! Holy shit. How much lower can it go? I'm sure there has been many people who bought Funcom stock thinking that it couldn't go down anymore. Wasn't there a guy here recently who said Funcom stock cannot drop to less than 10. Those guys lost a lot of money and still the stock keeps going down..
My advice: Sell all your stocks while they still are worth something.
I don't know if Funcom will go bankrupt or not. Seems like they have a lot of investors. Me personally, I have a open ended order $1,000 to buy if the price goes to .001 cents a share. 1,000,000 shares would make me a major share holder in Funcom and there is a certain PR guy I would move to fire.
According to the latest financial report they have enough money availble to get through 2009 without taking up loans etc s that's a good indication they won't go bankrupt the first year :P
Playing: Battlefield - Bad company (Xbox360) Arma2, DFO (PC) On my radar: TSW, MO MMO's played: SWG (pre cu/cu), WoW, AoC, WAR, DFO, Planetside MMO's that I have tested: Lotro, L2, Aion, Ryzom
I don't know if Funcom will go bankrupt or not. Seems like they have a lot of investors. Me personally, I have a open ended order $1,000 to buy if the price goes to .001 cents a share. 1,000,000 shares would make me a major share holder in Funcom and there is a certain PR guy I would move to fire.
According to the latest financial report they have enough money availble to get through 2009 without taking up loans etc s that's a good indication they won't go bankrupt the first year :P
We will see soon enough. The 'special' stockholders meeting is in a few weeks and I expect shortly after that to hear about the breakup of Funcom (or at least it going private).
Edit: Just looked it up.. appears the meeting was yesterday ( for some reason I was thinking the 13th). I wish someone would've gone to keep us informed
Or maybe not, it's been mentioned that their was a poster on the AoC Official forums using the handle CobraSolidus for quite a while prior to the name showing up here, the 1st Cobra was quite a vocal critic of the game.
Interesting someone felt the need to use the handle here and spin everything 180 degrees.
Or maybe not, it's been mentioned that their was a poster on the AoC Official forums using the handle CobraSolidus for quite a while prior to the name showing up here, the 1st Cobra was quite a vocal critic of the game.
Interesting someone felt the need to use the handle here and spin everything 180 degrees.
CobraSolidus? Isn't that the Norwegian guy who had "mystery issues" with WAR and who thinks AoC is the BEST GAME EVER?
Last trade 2.62, but this means NOTHING to AoC. Rofl.
Looks like the Norwegian Kroner took a small hit yesterday also and is down to about $0.138 also so combined with the share price drop a share of Funcom stock is worth about $0.36 USD now.
It's amazing. Cobra recently said Funcom had 6M in profits last quarter and it has 36M in cash in the bank. Yet someone could buy the entire company for 20M right now. Seems to me something is wrong.. Why wouldn't someone just pay the 20M for funcom, then take the 36M out the bank (wooohoooo 80% profit in one day) and then collect the 6M every 3 months.
Well you know which variable in that equation is off
Take your pick
a) Cobra
b) quarterly report
c) a&b
Reports can be "creatively produced" as the recent finanacial activity in the US shows and Cobra is Cobra.
Enron looked pretty good too all the way until the collapse
But seriously - there is no reason to exaggerate things!
This is all not very surprising. FUNCOM said they got enough cash reserves to make it through next year without taking up loans. From an inevstors perspective this sounds very bad. There are only 3 possible reasons someone would invest in FUNCOM.
1. AoC suddenly becomes insanely popular and creates enough revenue to put money back into the bank. This is highly unlikely. AoC was dead on birth, the MMO market is very unforgiving if it comes to bad launches. Combine that with the shady business practices, 6 million appearing out of nowhere and the attitude of FUNCOM towards their customers.
2. Release on the XBOX360 and in new markets (Russia, Korea) will increase the player base to a level that solid profit can be made. This is the most likely scenario the problem is that although Korea has a huge market and is very forgiving when it comes to quality and grinding, these are mostly free2play games with shops. Unless they convert AoC to a free2play game it will fail in Korea.
3. They release their new smash hit MMO (name escapes me at the moment) next year and it becomes a huge success. I would file this under, "not until hell freezes over".
The stock is currently only interesting as high risk investment. Some may hold on to it in the hope it will rise but at some point even the optimistic crowd will want to get out quick.
KJ
"Give players systems and tools instead of rails and rules"
I really don't see anyone from outside Funcom looking at this stock and buying it.
I think what is happening is that someone from within Funcom along with one of these new people that just came to the company the last few weeks is going to buy out the company and take it private. The whole 'special meeting' was to set things up.
It will be a sad day since we can no longer point to the stock price and laugh
muwhahaha think I may buy some Failcom stock for shits and giggles lol. Cant beat $0.36 ROFL
Or even better, all 150k players cough up an additional $15 this month and buy the company. (might need a bit more, so repeat it for the next 3 or so months).
"Give players systems and tools instead of rails and rules"
Funcom has now officially reached the point where you can effectively trade in aluminum cans and own a significant portion of it.
That was FUNNY
It made me lol that's for sure.
Playing: Battlefield - Bad company (Xbox360) Arma2, DFO (PC) On my radar: TSW, MO MMO's played: SWG (pre cu/cu), WoW, AoC, WAR, DFO, Planetside MMO's that I have tested: Lotro, L2, Aion, Ryzom
Comments
Well you know which variable in that equation is off
Take your pick
a) Cobra
b) quarterly report
c) a&b
Reports can be "creatively produced" as the recent finanacial activity in the US shows and Cobra is Cobra.
Probably because most companies have ongoing legal and financial obligations they must meet by law.
Even when you 100% own a company you may not simply withdraw all the cash.
In the case of Funcom - the people who purchased 12 month subs are entitled to 12 months of service - that means that Funcom must continue to operate (if at all possible) and that means wages, salaries, overheads and provision for redundancy payouts must be held in reserve (if possible).
The only way out of this is to actually go bankrupt.
Nothing says irony like spelling ideot wrong.
actually SCi's drop is about 88%. The biggest drop was back in January when it suffered a overnight 62% drop when it announced that takeover talks had ended.That company had some good titles such as Deus Ex, Hitman and of course the old Tomb Raider games back in the 90's and early this decade but hasn't had much else to brag about for several years now. Kane and Lynch was not exactly a runaway hit and that is the last title I can remember from them.
here is a article about their big drop
www.gamasutra.com/php-bin/news_index.php
and it has steadily declined since then, no major drops but not increasing either. Looking at their recent title this is no surprise.
investing.businessweek.com/research/stocks/charts/charts.asp
As I keep pointing out FC's drop happened just after the release when people refused to subscribe and the population dropped like a rock. You got to look at the time line and see what events precipitated the changes, things usually happen for a reason. SCi's was because they canceled takeover talks. Other game companies that have had drops in September when most stocks had a drop
Comparing Funcom to Eidos is like saying yeah our stock sucks but theirs does too. Anyway you cut it both companies stock sucks for the same reason, they have been releasing crap games. At least Eidos had some pretty big hits a few years back , which is more than FC will ever be able to say.
By the way for the monetarily challenged that chart is in GBX or pence sterling and in USD 19GBX is about 29 cents
Your post makes a lot of sense. People do tend to sell stocks of a company they think is gonna fail or not doing so well. And if everyone is selling and nobody is buying, then the price is going down. Don't really need much more explanation cause you hit the nail on the head with yours.
I am the type of player where I like to do everything and anything from time to time.
http://en.wikipedia.org/wiki/Holodomor - pre-WW2 genocide.
Last Trade: 2.75
Trade Time: 2:27pm
Change: 0.06 (2.14%)
Prev Close: 2.81
Open: 2.95
Bid: 2.75
Ask: 2.90
1y Target Est: 3.38
Day's Range: 2.75 - 2.95
52wk Range: 3.48 - 55.50
Volume: 31,130
Avg Vol (3m): 320,033
Market Cap: 115.26M
P/E (ttm): 68.75 x
EPS (ttm): 0.04
Div & Yield: N/A (N/A)
1d5d3m6m1y2y5ycustomise chart
Add FUNCOM.OL to Your Portfolio
Download Data
Finance updates on your mobile
Todays close. 2.75 not looking so good. But like I said before, they could air the removal of the servers from the server hotel on live international tv and the fanbois would have a reason that it wouldnt have any effect on the game.
I don't know if Funcom will go bankrupt or not. Seems like they have a lot of investors. Me personally, I have a open ended order $1,000 to buy if the price goes to .001 cents a share. 1,000,000 shares would make me a major share holder in Funcom and there is a certain PR guy I would move to fire.
Fear not fanbois, we are not trolls, let's take off your tin foil hat and learn what VAPORWARE is:
http://en.wikipedia.org/wiki/Vaporware
"Vaporware is a term used to describe a software or hardware product that is announced by a developer well in advance of release, but which then fails to emerge after having well exceeded the period of development time that was initially claimed or would normally be expected for the development cycle of a similar product."
2.75?! Holy shit. How much lower can it go? I'm sure there has been many people who bought Funcom stock thinking that it couldn't go down anymore. Wasn't there a guy here recently who said Funcom stock cannot drop to less than 10. Those guys lost a lot of money and still the stock keeps going down..
My advice: Sell all your stocks while they still are worth something.
According to the latest financial report they have enough money availble to get through 2009 without taking up loans etc s that's a good indication they won't go bankrupt the first year :P
Playing: Battlefield - Bad company (Xbox360) Arma2, DFO (PC)
On my radar: TSW, MO
MMO's played: SWG (pre cu/cu), WoW, AoC, WAR, DFO, Planetside
MMO's that I have tested: Lotro, L2, Aion, Ryzom
According to the latest financial report they have enough money availble to get through 2009 without taking up loans etc s that's a good indication they won't go bankrupt the first year :P
We will see soon enough. The 'special' stockholders meeting is in a few weeks and I expect shortly after that to hear about the breakup of Funcom (or at least it going private).
Edit: Just looked it up.. appears the meeting was yesterday ( for some reason I was thinking the 13th). I wish someone would've gone to keep us informed
Lol, stock price keeps going down. It's 2.64 at the moment (-4.00%).
It might jump a little soon as people think it has reached rock bottom and are hoping to make a quick buck.
I didnt think Funcom was still in business after the screwing they gave everyone this summer LOL.
Looks like someone got cold feet today and got out.
Price: 2.77 NOK
Volume 136,000
Last trade was at 2.62 NOK. If this trend continues the stock will be worth nothing in a month.
OFF TOPIC
Or maybe not, it's been mentioned that their was a poster on the AoC Official forums using the handle CobraSolidus for quite a while prior to the name showing up here, the 1st Cobra was quite a vocal critic of the game.
Interesting someone felt the need to use the handle here and spin everything 180 degrees.
OFF TOPIC
Or maybe not, it's been mentioned that their was a poster on the AoC Official forums using the handle CobraSolidus for quite a while prior to the name showing up here, the 1st Cobra was quite a vocal critic of the game.
Interesting someone felt the need to use the handle here and spin everything 180 degrees.
CobraSolidus? Isn't that the Norwegian guy who had "mystery issues" with WAR and who thinks AoC is the BEST GAME EVER?
We need more "just your average gamers" like him.
Last Trade: 2.62
Trade Time: 4:19pm
Change: 0.13 (4.73%)
Prev Close: 2.75
Open: 2.71
Bid: 2.70
Ask: 2.80
1y Target Est: 3.41
Day's Range: 2.60 - 2.80
52wk Range: 2.70 - 55.50
Volume: 211,000
Avg Vol (3m): 239,990
Market Cap: 109.81M
P/E (ttm): 65.50 x
EPS (ttm): 0.04
Div & Yield: N/A (N/A
Last trade 2.62, but this means NOTHING to AoC. Rofl.
Looks like the Norwegian Kroner took a small hit yesterday also and is down to about $0.138 also so combined with the share price drop a share of Funcom stock is worth about $0.36 USD now.
I miss DAoC
Well you know which variable in that equation is off
Take your pick
a) Cobra
b) quarterly report
c) a&b
Reports can be "creatively produced" as the recent finanacial activity in the US shows and Cobra is Cobra.
Enron looked pretty good too all the way until the collapse
But seriously - there is no reason to exaggerate things!
____________________________
CASUAL CONFESSIONS - Draccan's blog
____________________________
Another day to limbo how low can we go.
11:37am: 2.53 Down 0.09 (3.44%)
Funcom has now officially reached the point where you can effectively trade in aluminum cans and own a significant portion of it.
That was FUNNY
____________________________
CASUAL CONFESSIONS - Draccan's blog
____________________________
Every day Funcom hits a new low. I love it! I cant wait till they go under and someone picks up AoC and actually makes it a good mmo.
This is all not very surprising. FUNCOM said they got enough cash reserves to make it through next year without taking up loans. From an inevstors perspective this sounds very bad. There are only 3 possible reasons someone would invest in FUNCOM.
1. AoC suddenly becomes insanely popular and creates enough revenue to put money back into the bank. This is highly unlikely. AoC was dead on birth, the MMO market is very unforgiving if it comes to bad launches. Combine that with the shady business practices, 6 million appearing out of nowhere and the attitude of FUNCOM towards their customers.
2. Release on the XBOX360 and in new markets (Russia, Korea) will increase the player base to a level that solid profit can be made. This is the most likely scenario the problem is that although Korea has a huge market and is very forgiving when it comes to quality and grinding, these are mostly free2play games with shops. Unless they convert AoC to a free2play game it will fail in Korea.
3. They release their new smash hit MMO (name escapes me at the moment) next year and it becomes a huge success. I would file this under, "not until hell freezes over".
The stock is currently only interesting as high risk investment. Some may hold on to it in the hope it will rise but at some point even the optimistic crowd will want to get out quick.
KJ
I really don't see anyone from outside Funcom looking at this stock and buying it.
I think what is happening is that someone from within Funcom along with one of these new people that just came to the company the last few weeks is going to buy out the company and take it private. The whole 'special meeting' was to set things up.
It will be a sad day since we can no longer point to the stock price and laugh
muwhahaha think I may buy some Failcom stock for shits and giggles lol. Cant beat $0.36 ROFL
Or even better, all 150k players cough up an additional $15 this month and buy the company.
(might need a bit more, so repeat it for the next 3 or so months).
That was FUNNY
It made me lol that's for sure.
Playing: Battlefield - Bad company (Xbox360) Arma2, DFO (PC)
On my radar: TSW, MO
MMO's played: SWG (pre cu/cu), WoW, AoC, WAR, DFO, Planetside
MMO's that I have tested: Lotro, L2, Aion, Ryzom