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SimFabric, known for its transfer of games to the Nintendo Switch console, has announced that it is planning to debut on the NewConnect stock exchange. The planned debut date is the fourth quarter of 2019.
Emil Leszczyński, Chairman of the Supervisory Board of SimFabric, said that the debut on the stock exchange in the fourth quarter of 2019 will be the crowning achievement of the three-year stage of development. The company started as a company established with minimal capital when it received the main prize in the European Space Agency competition for the best space application in the ESTEC technological centre in Noordwijk.
At this moment, the capital of the joint stock company amounts to 625 thousand PLN, in addition, the funds raised for development amount to a total of 2 million PLN. Until its debut, SimFabric does not plan to issue any additional shares. Currently, the company is working on six original games, so far releasing ten games on the Nintendo Switch console and winning 50 publishing contracts.
The most recent of the company’s successes is “Lust for Darkness”, created by Movie Games, which SimFabric transferred to the Nintendo Switch console. In July the company announced that the costs of game production and marketing were paid back within 24 hours from the release.
The next goal of the company after the debut on NewConnect is to build a leading research and development center in Eastern Europe. The center will focus on research and development of innovative technologies related to video games. The first step in this direction was the establishment of a branch in Łódź, while the company plans to establish at least two special purpose vehicles thanks to the funds obtained from the National Centre for Research and Development. All the companies will join the capital group developed by SimFabric.
The first step in this direction was the establishment of a branch in Łódź, while the company plans to establish at least two special purpose vehicles thanks to the funds obtained from the National Centre for Research and Development. All the companies will join the capital group developed by SimFabric.
Apart from the current production and publishing activity on the PC and new generation consoles, the company plans to launch a research and development department in order to research and search for new types of entertainment in the field of video games. An exemplary task of the department will be to check to what extent it is possible to create games through artificial intelligence and to develop an automation process based on AI. Automation will be supported by machine learning to create and transfer games to consoles.