April 3rd, 2007 by Arjan Olsder Posted in Companies & M&A | No Comments »
The Hong Kong based mobile games developer Artificial Life announced
their first financial results over 2006. 2006 has been a good year for
the company as they saw their revenues grow from $ 266,757 at the end
of 2005 to $ 856,334 at the end of 2006.
The increase in revenues of 221% was primarily due to licensing revenue generated on key 3G products like their V- series (V-Girl, V-Boy etc.) and internet technologies.
Net loss of the company at the end of 2006 was $ 2,942,532 which was considerably higher then the $ 1,258,083 a year before. The 74,69% increase was caused mainly by global expansion, increase in staff and a stock based compensation expense of $ 1,286,800 which was recognized upon adoption of SFAS 123R. The net loss per share was $ 0.10 at the end of 2006, compared to the net loss of $ 0.07 at the end of 2005.
"In 2007 we intend to further expand our product launches to many more countries around the world such as Austria, Denmark, Finland, Germany, India, Italy, Japan, Luxembourg, Norway, Spain, Sweden and the UK among others. Our European roll-out activities will be handled mostly by our new European headquarters and staff in Berlin. We also plan to release again several new and exciting 3G mobile games based on our own intellectual properties and other new titles based on popular licensed brands in 2007. We are therefore looking forward to further establishing Artificial Life as a key global player for 3G content and leading edge mobile technology."
