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Funcom NV (FUNCOM.OL)

FUNCOM.OL on Oslo Stock Exchange

3.06NOK
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Funcom Q4 EBIT loss narrows to $0.6 million
Tuesday, 28 Feb 2017 04:35am EST 

Funcom NV : Reported on Monday Q4 revenue of $1.7 million versus $2.6 million year ago . Q4 EBIT loss $0.6 million versus loss $0.7 million year ago . Says Q4 revenue was down following gradual and expected decrease in sales from current Live Games . Says continued its cost-saving efforts in Q4 and realized operating cost savings of $0.8 million compared to Q4 2015 . Cash position decreased from $5.2 million at end-Q3 to $3.8 million at end-Q4 as result of investment made into Conan Exiles and The Secret World relaunch . Says two new projects are in early concept stages and will enter pre-production at earliest during H2 2017 .Says has ability to fund its operations for next 12 months after end-Q4.  Full Article

Funcom: Conan Exiles sells more than 320,000 units worldwide
Tuesday, 7 Feb 2017 02:00am EST 

Funcom NV : Conan Exiles game released in early access on steam platform week ago has sold more than 320,000 units worldwide .In addition, all of costs directly related to this game have been recouped and project is now operationally profitable.  Full Article

Funcom Q3 EBITDA turns to profit of $97,000
Wednesday, 2 Nov 2016 03:00am EDT 

Funcom NV : Q3 revenue $1.7 million versus $2.2 million year ago . Q3 EBITDA $97,000 versus loss $365,000 year ago .Company expects to have ability to fund its operations for next twelve months after end of Q3 2016.  Full Article

Funcom Q2 EBITDA swings to loss of $412,000
Friday, 26 Aug 2016 02:00am EDT 

Funcom NV : Q2 revenue $1.7 million versus $2.7 million year ago . Q2 EBITDA loss $ 412,000 versus profit $261,000 year ago .Expects to have the ability to fund its operations for the next twelve months after the end of Q2.  Full Article

Funcom moves early access date for Conan Exiles to Jan 2017
Wednesday, 22 Jun 2016 06:30am EDT 

Funcom N.V. : Has decided to move early access date for Conan Exiles to January 2017 .Says development team is on track to deliver what they set out to do for Sept. 13 but is of opinion that additional development time will allow for better product with higher quality and sales potential.  Full Article

Funcom partners with NVIDIA on "Conan Exiles"
Wednesday, 8 Jun 2016 08:41am EDT 

Funcom NV :Has entered into partnership with NVIDIA for the co-marketing and development of "Conan Exiles".  Full Article

Funcom raises NOK 52.8 mln in private placement, restructures debt
Thursday, 26 May 2016 08:46am EDT 

Funcom NV : Completes private placement raising about 52.8 million Norwegian crowns (about $6.34 million) in gross proceeds . Issues 95,970,000 new shares at subscription price 0.55 crown per new share . In order to reduce dilutive effects of private placement, intends to launch subsequent offering of about 15 million new shares . Subscription price per offer share will correspond to subscription price in private placement, being 0.55 crowns per share . Says private placement ensures the company has sufficient funds for operations for at least coming 12 month period . Will use private placement proceeds for development of game Conan Exiles and two other titles to be developed this year, for repayment of $500,000 thousand short term loan drawn in April 2016 and other general corporate purposes . Has entered into agreement with KGJ Investments S.A., SICAV-SIF (KGJI) for restructuring of company's $7.95 million restated and amended convertible loan agreement dated 13 April 2014 and convertible bond loan from 21 December 2011 . Under agreed debt restructuring KGJI will convert $7.7 million of principal amount owed by company under convertible loan into 42,777,778 new Funcom shares . Debt conversion is made at a conversion price of $0.18 per share.  Full Article

Funcom Q1 EBITDA down at $263,000
Thursday, 19 May 2016 01:58am EDT 

Funcom NV : Q1 revenue $2.0 million versus $2.8 million year ago . Q1 EBITDA $263,000 versus $487,000 year ago .Expects to have the ability to fund its operations for the next twelve months after the end of Q1 2016.  Full Article

Funcom signs $0.5 mln short-term loan agreement
Wednesday, 13 Apr 2016 02:05am EDT 

Funcom NV:Says has entered into short-term loan agreement with KGJ Investments S.A., SICAV-SIF for amount of $500,000 to support operation of business during period of share issue.Loan will be repaid in full once capital is raised from share issue.  Full Article

Norwegian police say charges Funcom ex-CEO
Tuesday, 16 Feb 2016 07:54am EST 

Funcom NV:Charging former Funcom Chief Executive Officer Trond Arne Aas with alleged market manipulation and insider trading, focusing on a nine-month period in 2011-2012.Says three other individuals tied to the company are also charged with insider trading.Lawyers representing the four told financial daily Finansavisen their clients were innocent of the charges.Lawyers were not immediately available for comment when contacted by Reuters.  Full Article

More From Around the Web

BRIEF-Funcom Q4 EBIT loss narrows to $0.6 million

* Reported on Monday Q4 revenue of $1.7 million versus $2.6 million year ago