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Starbreeze (STAR-A/B)

TWD selger, men nå var jo OTWD helt motbydelig dårlig da :smile:

Payday 2 lever jo i beste velgående fortsatt, så det blir jo annerledes.

Edit: Men problemet med Payday 3 er jo at de har lovt bort så mye til 505 Games, når jeg tenker meg om.

Som @Christian sier, ting kan tyde på en avvikling. rekonstruksjon kan i mange tilfeller være en måte å selge unna assets til best mulig pris.

I konkurssalg er det jo alltid massiv rabatt.

Det som dog er et alternativ med PD3 er at de lar noen andre utvikle spillet mens SB får større del av inntektene, men isåfall vil de pengene kun gå til å dekke gjeld.

Hva? Later de som om de rekonstruerer, men egentlig selger de unna ting til best mulig pris fordi de skal avvikle? Høres veldig rart ut. Og litt ulovlig?

Spørsmålet er jo hva de klarer å selge. Får de ikke solgte VRtingene må de jo nesten se på hva annet de kan få solgt. PD har jo verdi men synes å huske at DB skulle ha 40MSEK i inntekter fra PD3…

“505 Games will also take a 33 per cent cut of revenue from Payday 3 which was confirmed alongside the announcement of the deal. That share will be capped $40 million, after Starbreeze has recouped its development and marketing costs.”

Hadde det bare vært 40MSEK så :smiley:

40 000 000 Amerikansk dollar = 372 218 400 Svensk krone, hilsen valutakalkulator.net.

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Nei å selge unna eiendeler er endel av rekonstruksjonen. Det er jo de som eier gjelden som bestemmer og de gjør ofte det de tror gir mest penger igjen til dem til lavest mulig risiko.

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Den dealen der reduserer verdien på PD3 en god del :slight_smile: Når man ser på alle de avtalene som har blitt gjort så er det helt klart at Bo aldri burde være CEO i et selskap. Han burde iallfall holdes langt borte fra forhandlinger og avtaler :stuck_out_tongue:

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mistenker at han fikk endel penger for den dealen, dvs SB fikk.

Mao kan man jo anta at mye av regnskapene til SB har blitt blåst opp av penger som kom fra sånne “deals”?

Er ikke så sikker på det :

“Starbreeze has acquired the Payday franchise from publisher 505 Games for around $30 million, giving it full control of an IP that has been the driving force behind its recent growth.”

Burde det ikke stå “full” control der ? :stuck_out_tongue:

Den dealen er vel ikke så ille? Det var vel 505 games som hadde rettighetene i utgangspunktet? Som betaling så har de fått 10m Star-B aksjer som er verdt sånn ca ingenting. 505 games får jo også først inntekter etter at Starbreeze har tjent tilbake pengene sine? Bedre deal enn de hadde i utgangspunktet. Husk på at den originale dealen ble gjort av et selskap som var på kanten av stupet, før Payday 2 var blitt en suksess.

Avtalen var vel opprinnelig fram til 2022 og ble forlenget i 2015 :

"In addition, the Payday 2 publishing agreement between 505 and Starbreeze has been extended for an additional 24 months from April 1, 2015. "

"The new agreements also extends 505’s exclusive publishing rights on the series for a further 10 years, now expiring in 2032. "

Den avtalen henger vel litt sammen med at broren til Bo ville ut?

It should be no surprise that Digital Bros. is taking a more direct interest in Starbreeze, acquiring 3.87 million common shares from existing stockholder Varvtre AB. At $5 million for 2.67 per cent of the company, the deal values Starbreeze at around $187 million.

Ja men hvis du ser bort fra det synes du at den avtalen som ble inngått i 2015 ser bra ut for SB ? For Bo var det nok en grei deal…

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Starbreeze överklagade Skatteverkets beslut till Förvaltningsrätten i Stockholm. I förvaltningsrätten uppgav bolaget bl.a. att

”programvaruutveckling anses generellt utgöra sådan FoU som berättigar till nedsättning av arbetsgivaravgifter. Spelutveckling ligger i framkant när det gäller användandet av ny teknik, både avseende programvaruutveckling och utveckling av relaterad hårdvara. Arbetet med de tre projekten spelmotorn Valhalla, det nya spelet Overkill the Walking Dead och ett nytt nedladdningsbart material till spelet Payday, inkluderar framtagande av ny teknik och skapandet av nya produkter baserat på ny eller tidigare forskning.”

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Kanskje de skulle fokusert litt mindre på “forskning” og litt mer på “spillutvikling”

Og aksjen opp 9% :smiley:

Starbreeze AB (publ) full year report and Q4 2018

Fourth quarter 2018

  • Net sales amounted to SEK 82.5 million (103.8). Of the total, OVERKILL’s The Walking Dead (OTWD) generated SEK 34.1 million (0.0) and PAYDAY generated SEK 20.4 million (20.4).
  • EBITDA* was SEK -73.7 million (6.3).
  • Depreciation, amortization and impairments totaled SEK 1,428.6 million (49.4).
  • The loss before tax amounted to SEK -1,264.7 million (-67.9).
  • Basic and diluted earnings per share were SEK -3.96 (-0.22).
  • The company has impaired assets in the amount of SEK 1,401.9 million.
  • As four of seven board members resigned from the board in the fourth quarter, the board does not hold quorum. As a consequence, this year-end report is published by the Acting CEO.
  • Mikael Nermark has been appointed Acting CEO and Claes Wenthzel has been appointed Acting CFO.
  • The Stockholm District Court has approved reconstruction of Starbreeze AB (publ) and its subsidiaries Starbreeze Publishing, Starbreeze Production, Starbreeze Studios, Enterspace and Enterspace International.
  • The company has decided to divide the operations in core and non-core. The decision entails that operational and financial resources will be focused to the core business.

Full year 2018

  • Net sales amounted to SEK 350.0 million (361.4). Of the total, OTWD generated SEK 34.1 million (0.0) and PAYDAY generated SEK 97.7 million (120.3).
  • EBITDA* was SEK -10.3 million (-53.6).
  • The loss before tax was SEK -1,347.2 million (-176.2).
  • Basic and diluted earnings per share were SEK -4.20 (-0.55).
  • Cash and cash equivalents at the end of the period amounted to SEK 72.4 million (233.8).
  • As the board does not hold quorum, proposal regarding dividend will be announced later.

After the end of the period

  • Shareholders in Starbreeze AB (publ) were notified that an extraordinary general meeting will be held March 7, 2019.
  • A distribution agreement was made with Universal Games and Digital Platforms for the Starbreeze mobile title PAYDAY: Crime War.
  • Starbreeze is selling back the publishing rights to System Shock 3 to OtherSide Entertainment.

** See pages 22 and 23 and Note 6 in the full year report concerning derivation of the key figure.*

Acting CEO Mikael Nermark remarks on the report:

"Focus on the Core Business
The fourth quarter was a turbulent period for Starbreeze, with the parent company Starbreeze AB and a number of subsidiaries going into reconstruction. After having served as CEO for just over two months, I remain optimistic that we will come through this period in a good way and emerge stronger from the transformation. I feel confident about the strategic route we have taken. Going forward, we will focus on the core business: game development and publishing.

Quarterly results
Net sales in the fourth quarter were SEK 82.5 million (103.8). The decrease is due mainly to sales related to the publishing title Dead by Daylight in the fourth quarter of 2017. Those publishing rights were sold in March 2018. Net sales from PAYDAY 2 were SEK 20.4 million (20.4). Sales related to OVERKILL’s The Walking Dead (OTWD), released in November 2018, did not meet our financial expectations and amounted to SEK 34.1 million.

EBITDA amounted to SEK -73.7 million (6.3). The cost increase is attributable mainly to marketing in connection with the release of OTWD. Cash used during the quarter amounted to SEK -75.5 million (-197.7).

The value of the group’s assets was tested in connection with closing the annual accounts. This resulted in a non-cash impairment loss, taken for accounting purposes, of SEK 1,401.9 million. Most of the recent years’ investments have not been successful and have caused the current financial situation.

The future of the business
We have decided to streamline operations and are now focused entirely on the group’s core business: game development and publishing. The company has also commenced the process to find financial partners to finance all or parts of its future operations.

We signed an agreement in February with Universal Games and Digital Platforms on the distribution of the mobile game PAYDAY: Crime War. PAYDAY is Starbreeze most successful brand and we are now continuing to refine our core business.

We are seeking external collaborative partners to ensure that operations that do not constitute core business develop in a positive manner.

As the company is under reconstruction, it is naturally difficult to predict the future, but the plan we are devising is aimed at creating stable development of the core business and thus long-term share-holder value. I can guarantee that everyone at the company is doing their utmost to promote the favourable development of Starbreeze."

Merkelig sagt…
Ellers i Q4 så dro oTWD inn litt mer enn 65% mer enn payday. Ikke helt det man hadde håpet på opprinnelig.

kassa nærmer seg tom:
Cash and cash equivalents at the end of the period amounted to SEK 72.4 million (233.8).

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Så hva tror vi om en eventuell redningsoperasjon i starbreeze?
Mitt tips er emisjon med 60-90% rabatt, kanskje er Core Ny Teknik interessert i å bli med?

Usikker, de har sagt at de ikke ønsker å satse på turn-arounds.

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