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New listing of SPACE FOX GAMES S.A. on NewConnect
SPACE FOX GAMES S.A. was newly listed on NewConnect on 13 November 2023.
SPACE FOX GAMES S.A. is the 369th company listed on NewConnect and the 12th new listing on NewConnect in 2023.
Key information
|
company name |
SPACE FOX GAMES S.A. |
|
ticker/short name |
SPACEFOX/FOX |
|
website |
https://spacefoxgames.com/ |
|
seat |
Warszawa |
|
core business |
SPACE FOX GAMES S.A. is an independent development studio whose business is based on the development of original games |
|
new listings on NC in 2023 |
12 |
|
companies listed on NC |
359 |
|
business sector |
Gaming |
|
companies in the sector |
71 |
|
offering/sale* |
None |
|
offering/sale value* |
None |
|
issue/selling price* |
None |
|
company valuation* |
PLN 6 866 860.00
|
|
value of introduced instruments* |
PLN 6 866 860.00 |
|
% free float (below 5% in shares subject to the application) |
28.67% |
|
free float value* |
PLN 1 968 820
|
|
% free float (below 5% in all shares) |
28.67% |
|
free float value* |
PLN 1 968 820 |
|
number of shareholders (shares subject to the application) |
20 (14 unrelated)
|
|
Authorised Advisor |
INC SA |
|
Links to other companies listed on NC/MM |
NONE |
* based on the value of the most recent issue of shares of the Issuer’s legal predecessor per Issuer’s share, equal to PLN 6.86; the reference price proposed by the Authorised Advisor and the Market Maker for the first day of trading of the shares is equal to that issue price of the shares
Issuer’s history and business
The Company started its business in the gaming industry in 2014 as the legal predecessor of the Issuer: World Loom Games spółka z ograniczoną odpowiedzialnością. The Company’s development started with the production of mobile and PC casual premium games characterised by engaging gameplay and simple control. In this business, the Issuer cooperated with entities with an established market position, e.g., Artifex Mundi S.A., a Polish producer and publisher of computer games with over 15 years of experience, as well as iWin Inc., an American company developing casual games and operating a platform for such games. During its nine years in business, the Issuer has created 12 commissioned titles, mainly in the HOPA genre, i.e., puzzle games based on the search for objects, characters or items. The Issuer mitigates the risk of sales failure thanks to its experience in creating commissioned games and its knowledge of players’ preferences for the content of digital products. In 2019, the Company raised funding in the amount of PLN 419,050.00 for the project “Development of a new design project for an innovative game in the Metroidvania genre and its implementation on the market by World-Loom Games sp. z o.o.” from the Polish Agency for Enterprise Development for the proprietary production “Rin: The Last Child” scheduled for release in Q4 2023. The project has been completed and cleared.
Space Fox Games S.A. is involved in the production of indie games (independent games) from the AA segment with a budget in the range of PLN 1.5 - 2.5 million.
In 2022, 53% of the Issuer’s revenue was earned from the sale of games and royalties, and the remaining 47% were fees for completed programming projects.
Selected financial data of the Issuer’s Group (PLN):
|
|
30.06.2023 |
31.12.2022 |
31.12.2021 |
|
Equity |
2,350,285.66 |
2,510,931.58 |
472,217.50 |
|
Liabilities and provisions |
1,016,408.01 |
1,159,954.72 |
592,143.14 |
|
Total assets |
3,417,125.79 |
3,728,026.78 |
1,064,360.64 |
|
Net sales revenue |
866,450.25 |
1,423,288.18 |
1,037,344.36 |
|
Net profit |
(160,645.91) |
3,714.08 |
40,072.59 |
|
Total net cash flows |
(425,636.54) |
1,066,233.10 |
- |
|
Cash (closing balance) |
640,624.03 |
1,066,253.55 |
20.45 |
Shareholders
|
Shareholder |
Number of shares |
Stake in share capital (%) |
Number of votes |
Stake in votes |
|
Aleksander Tomasz Korulski |
434,000 |
43.36%% |
434,000 |
43.36%% |
|
Marcin Rafał Kuciapski |
112,000 |
11.19% |
112,000 |
11.19% |
|
Joanna Kadyszewska |
98,000 |
9.79% |
98,000 |
9.79% |
|
Szejk Capital – ASI – S.A. |
70,000 |
6.99% |
70,000 |
6.99% |
|
Other related (2) |
21,000 |
2.1% |
21,000 |
2.1% |
|
Other non-related |
266,000 |
26.57% |
266,000 |
26.57% |
|
Total |
1,001,000 |
100% |
1,001,000 |
100% |
Financial instruments newly listed on NewConnect: 1,001,000 series A shares.