CI Games, one of the leading game developers in Poland, is preparing for the release of the fourth part of the flagship production of “Sniper Ghost Warrior” – “Sniper Ghost Warrior Contracts”, scheduled for November 22. At the same time, the studio is experiencing financial irregularities identified by the tax authorities and a lower involvement of the president in the company’s shares.
The main shareholder sells shares in CI Games
In recent days, the gaming industry has been informed that Marek Tyminski, the founder, president and main shareholder of CI Games, sold 7 million shares of the company, reducing his involvement in the company to 32.52% of votes at the GM from 36.84%. Despite this, Tyminski remains the main shareholder of CI Games.
As a result, the market started to create speculation to argue this move. The most popular one talks about Tyminski’s preventive action in the event of the failure of the premiere of another part of the flagship production of “Sniper Ghost Warrior” – “Sniper Ghost Warrior Contracts”. All this in the context of the premiere of the third part of the sniper series in 2017, which turned out to be a failure. “Sniper Ghost Warrior Contracts” is scheduled to debut on the market on November 22. The company has already launched digital pre-sales and assures that everything is going as planned for now.
The company’s CEO responds to these assumptions and convinces that he strongly believes in the success of “Sniper Ghost Warrior Contracts” and informs that the last sale of shares was initiated by an investor who was interested in an even larger block of shares.
Irregularities in CI Games detected by the Tax Office
Another event in CI Games, which has recently worried the market, was the assessment of the head of the Customs and Tax Office that the gaming manufacturer incorrectly included revenues and costs in the tax return for 2013, lowering the revenue by PLN 7m. This was reflected in the company’s quotations on the Warsaw Stock Exchange. However, the scale of the discount turned out to be moderate.
In response, the company informed that it will correct its tax return for 2013. In the opinion of the management board, the adjustment will not result in additional tax liability, because the losses from previous years will be settled. In addition, the company announced that it would submit adjustments to its 2014-2017 tax return, which would result in a tax liability for 2017 in the amount of PLN 450 thousand of the principal plus interest.