Geewa a.s. ANNUAL REPORT 2014

Transcription

1 Geewa a.s. ANNUAL REPORT 2014 Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

2 Contents 1. Basic Identification Details of the Company 2. Report on Business Activities and Assets 3. Financial Statements and Notes to the Financial Statements Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

3 1. Basic Identification Details of the Company Geewa a.s., Id. No , with its registered office at Sokolovská 366/84, Prague 8 Karlín, , the Czech Republic, registered in the Commercial Register kept by the Municipal Court in Prague under File No. B (hereinafter the Company ), is a legal entity, a joint-stock company, incorporated on 17 October The Company s main object of business is the development and publishing of competitive multi-player games that can be ran on various platforms Facebook, ios, Android, Windows Phone. In this connection, the Company also offers services in the area of sale of advertising space. As of 31 December 2014, the Company was owned by the following shareholders: MCI.Private Ventures Fundusz Inwestycyjny Zamknięty 49 % KKCG Investments N.V. 31 % Ing. Miloš Endrle 9 % Others 11 % In the course of 2014, the following changes were registered in the Commercial Register: In 2014, the following changes were registered with respect to the Company s Board of Directors: On 15 July 2014, Ing. Vladimír Němeček was removed from the Company s Board of Directors; on 15 July 2014, Filip Fischer was appointed member of the Board of Directors. These changes were registered in the Commercial Register on 2 September On 20 December 2014, Jens Hilgers was removed from the office of the Chairman of the Board of Directors and Filip Fischer was removed from the office of a member of the Board of Directors; on 20 December 2014, Miloš Endrle was appointed Chairman of the Board of Directors and Vladimír Němeček and Petr Přibyl were appointed members of the Board of Directors. These changes were registered in the Commercial Register on 7 April In 2014, the following changes were registered with respect to the Company s Supervisory Board: On 1 October 2014, Ing. Tomasz Janusz Czechowicz was removed from the Company s Supervisory Board; on 1 October 2014, Marek Jablonský was appointed member of the Company s Supervisory Board. These changes were registered in the Commercial Register on 13 November Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

4 2. Report on the Company s Business Activities and the State of its Assets for the Period from 1 January 2014 to 31 December 2014 Economic Results A predominant part of the Company s revenue is created by sales of virtual currencies consumed by players in games. The second most important part of the revenue is the sale of advertising space within gaming platforms. The third most important source of revenue is the Company s share in sales of virtual currencies in games supplied by third parties that the players obtain though the Company s gaming platforms. The structure of revenue is shown in the following table (in CZK thousands): Domestic revenue Europe Third countries Total Advertising ,139 1,474 3,006 8, , ,850 9,899 Games ,580 27, , ,902 36, ,100 Others Total ,035 29,031 4,060 42, ,537 36,827 4,016 54,380 State of the Company s Assets The Company s equity equalled CZK 34,180 thousand and its liabilities equalled CZK 13,776 thousand as of 31 December The value of the assets as of the same date equalled CZK 48,474 thousand. The most significant assets comprise software and short-term financial assets. The Company s assets comprise especially intangible assets created by own activities. The Company leases its offices and parking spaces based on a contract for a fixed term until 31 January The total annual expenses relating to this lease and the associated services reached CZK 3,378 thousand in 2014 (2013 CZK 2,726 thousand). As of 31 December 2014, the Company was the sole owner of Geewa GmbH, holding a share in its equity equal to CZK 879 thousand. In 2014, the Company had no revenue from this long-term investment in the form of received shares in profit. HR Policy and Labour-law Relationships The HR policy is bound with the implementation of the Company s business plan. The year 2014 saw dynamic changes in labour-law relationships, eventually resulting in changes in the Company s top management. The consolidation of the Company s management was followed by restructuring and reducing the number of employees, where selected projects have been halted. The Company succeeded in retaining its key employees and filling the vacancies with new qualified staff. Intended and Anticipated Development of the Company s Activities The Company expects that the revenues from Pool Live Tour, its flagship game, will continue to fall in 2015, and revenues will also decrease with respect to platforms where the Company acts as a distributor of the games. The Company s aim is to make up for the falling revenues by the release of two new games ( Prima kvízy and Pool Live Tour 2 ) and increased co-operation with its strategic partners in the fields of the gaming industry and its electronisation. Similarly to 2014, the Company will continue streamlining its existing procedures and activities in Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

5 < Important Facts Occurring after the Balance-sheet Date On 28 February 2015, an application for liquidation of Geewa GmbH was lodged, as proposed by its sole shareholder, Geewa a.s. Jens Hilgers was removed from the office of Executive Director of Geewa GmbH and he was appointed its liquidator. Based on a decision of the General Meeting of 25 June 2015, the Company accepted a convertible loan from its two major shareholders, which allowed it to arrange for its funding and operation until at least 31 December The loan is due on 30 June As of the date of compilation of the Annual Report, the Company management is not aware of any important subsequent events affecting the financial statements as of 31 December Report on Relationships among the Controlling and Controlled Entities In the period from 1 January 2014 to 31 December 2014, the Company was not a controlled entity in the sense of Section 74 et seq. of Act No. 90/2012 Coll., on companies and co-operatives. Therefore, in compliance with Section 82 of the Corporations Act, the Company s Board of Directors did not draw up a Report on Relationships among the Controlling and Controlled Entities for the past accounting period. Activities in the Area of Research and Development The Company did not perform any activities in the area of research and development. Activities in the Area of Environmental Protection The Company did not perform any activities in the area of environmental protection. Organisational Components Abroad The Company has never had any organisational component abroad. In Prague, on 11 September 2015 Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

6 2. Financial Statements and Notes to the Financial Statements Geewa a.s. Sokolovská Prague 8 the Czech Republic corporate.geewa.com

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