Jump to content


World ot Tanks is dead.

worldoftanks clanwars wargaming

  • Please log in to reply
211 replies to this topic

BAD_MM_DESERTER #181 Posted Jan 11 2018 - 21:16

    Sergeant

  • Beta Testers
  • 17844 battles
  • 210
  • Member since:
    09-17-2010

of course is dying, devs and mods never listen players u can see last tier 8 prem (mini mouse) no one bought it cause mm is broken, specially with tier 8 prem tanks.

my account from close beta but u can see that i dont have a lot of battles, im on competition since 2014, sometimes here.

i know next ungine update (graphics) it only a small change on wot, game unbalanced so dying, and lot of childs here, when someone say bad words about wot "TROOOOLLLL",,, por people, really poor people use your brain, dont be id__t


Edited by Beta_Tester_2009, Jan 11 2018 - 21:16.


Beorn_of_the_NorthernSea #182 Posted Jan 11 2018 - 21:17

    Major

  • -Players-
  • 26361 battles
  • 2,694
  • [-SCA-] -SCA-
  • Member since:
    08-07-2014

View Postthe_Deadly_Bulb, on Jan 11 2018 - 11:29, said:

 

I enjoy those cozy nights alone with Serb, in his pup tent.

He lets me smooth out the plans on the floor.

We have fun.

 

When he shouts "Stalin guide my shell" it always makes me smile, him too.

 

Okay, this right here?  ^

 

This made me laugh the [censored] out loud right here.

 

I regret I have but one up-vote to give...



Nunya_000 #183 Posted Jan 11 2018 - 21:28

    Major

  • Players
  • 21138 battles
  • 13,772
  • [PACNW] PACNW
  • Member since:
    09-20-2013

View PostBeornotns, on Jan 11 2018 - 12:17, said:

 

 

I regret I have but one up-vote to give...

 

Got ya covered.



Beorn_of_the_NorthernSea #184 Posted Jan 11 2018 - 21:28

    Major

  • -Players-
  • 26361 battles
  • 2,694
  • [-SCA-] -SCA-
  • Member since:
    08-07-2014

View PostBeta_Tester_2009, on Jan 11 2018 - 12:16, said:

of course is dying, devs and mods never listen players u can see last tier 8 prem (mini mouse) no one bought it cause mm is broken, specially with tier 8 prem tanks.

my account from close beta but u can see that i dont have a lot of battles, im on competition since 2014, sometimes here.

i know next ungine update (graphics) it only a small change on wot, game unbalanced so dying, and lot of childs here, when someone say bad words about wot "TROOOOLLLL",,, por people, really poor people use your brain, dont be id__t

 

You self censor the word "idiot," but why?

 

Oh, and I bought the Mauerbrecher; it is a great crew trainer for the E 100 & Maus and the tanks leading to them both.  As a matter of fact, check my youtube channel Taters-N-Maters World of ? soon for my review of the Notorious Mauer B "unbought" VK 168.01 tier 8 super-heavy.  And I don't pull any punches, whether top tier, or in a tier 10 match, the thing works well provided you know HOW to play a super-heavy and take a few elementary precautions.  There is a losing match I had this morning (which will be in the video) that we lost on El Halluf, and part of the loss was, c'mon man... 20kph top speed?  And yet, still made good credits, even while being an arty magnet.  Balanced is not broken; something folks should have realized by now.

 

~B


Edited by Beornotns, Jan 11 2018 - 21:48.


Striker_70 #185 Posted Jan 12 2018 - 04:43

    Major

  • Players
  • 19694 battles
  • 6,544
  • Member since:
    04-02-2013

View PostStiffWind, on Jan 10 2018 - 01:59, said:

 

Most of that "boost" won't last six months.

 

 

No the boost being referred to is the new and old players who stay.  Not the ones who don't.

lordpelvis #186 Posted Jan 12 2018 - 06:27

    First lieutenant

  • Players
  • 42187 battles
  • 541
  • [SMAX] SMAX
  • Member since:
    02-21-2013
I am sick of this crap...........gold rounds , arty sucks, wot is dying, Im leaving, .................all or you need a life...................stop crying on the forums........NO ONE CARES ON HERE

Arkon96 #187 Posted Mar 20 2018 - 11:58

    Private

  • -Players-
  • 21 battles
  • 1
  • Member since:
    03-17-2018

I, Arkon the pro of all tank games, can confirm world of tanks is a crapgame and dead confirmed.

Pay to Win KEK

RIP dev's wallets :P



24cups #188 Posted Mar 20 2018 - 12:06

    Major

  • Players
  • 24499 battles
  • 4,162
  • [D-DAY] D-DAY
  • Member since:
    01-25-2013

View PostDemonic_Angel_of_Death, on Aug 01 2017 - 15:24, said:

Clan Wars and Tournaments may be dead or dying, but pubs will still go strong because idiots never know when to give something up...

This is the dumbest post yet.  Do you really believe that the MAJORITY of players played clan wars  ? 

The all tier 10 elitist endgame  ?

 

You are delusional. 



Fbomb #189 Posted Mar 20 2018 - 14:39

    Captain

  • Players
  • 29927 battles
  • 1,800
  • Member since:
    05-10-2011
The game isn't as huge as it once was, but I don't see it circling the drain either. I've been messing around with it for nearly 7 years, manage to be fun...MOST nights. (That being said, would help if the devs remotely cared about what the player-base wanted)

EmperorJuliusCaesar #190 Posted Mar 20 2018 - 15:19

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View Postspaero, on Aug 02 2017 - 09:22, said:

Quit after the artillery patch....missing the game

 

So did my wife, and every one of her girlfriends after the arty nerf.  WG lost 5 PAYING customers right there, and the numbers show they lost 10k in total, "great move WG".



EmperorJuliusCaesar #191 Posted Mar 20 2018 - 15:24

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View Postbadmonkey59, on Aug 02 2017 - 15:29, said:

View PostDevildog8, on Aug 01 2017 - 13:59, said:

it is not dead, are you waiting long que times? no

are the ques full so your facing 15vs15 every match? yes

 

im not sure what you call dead, but 20K on at any single time in prime time is not dead, all MMOs go thru this, all of them, doesnt make it dead

 

Do you enjoy playing against bot?

 

Clan Wars was the one place you really had a team vs team feel. Not the damn lemming rush you get in most pubbies. With the death of Clan Wars a lot of the competitive players are leaving. My friends list once had over 100 people in it and 30 to 40 of them would be online nightly, now I see 7 at most and it is usually less. Keep in mind these were all people who bought premium time and all the premium tanks.

 

GOOD, try-hards ruin the experience of the other 95%



EmperorJuliusCaesar #192 Posted Mar 20 2018 - 15:26

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View PostInsurrectional_Leftist, on Aug 02 2017 - 15:35, said:

View PostLethalhavoc, on Aug 02 2017 - 22:58, said:

 

Any citation on that?

 

​Go back up and reread post #97, which apparently you didn't.  I expected you to come back with some credible sources, and Rita posted "Junk propaganda" which is clearly stated by the cited poster up post #97.  I mistakenly gave you too much credit for being smarter than that.  Why were you posting junk like this in first place, you know better than that!

 

Since you're going to post speculative, BS by wargaming, which WG itself has no official records to back any of this up with, ( and you and RITA post to the community as if that BS is official, then I'm going to post this here, then.)  Now, you give me something official to disprove this.. And by the way, what am posting below is based on official things that were posted from official financial records !! ------

 

 

About the most ridiculous argument the World of Tanks shills throw in everybody’s face constantly is, “With all the billions Wargaming makes, they don’t care about you!”

This argument gets thrown into the face of anybody that quits the game or criticizes it out of absolute frustration. There’s only one problem with that argument: It’s completely made up.

In order to understand just how off base and completely bogus that argument is, one just has to do a little homework and due diligence. Once one does that, one can only come to one conclusion:

Wargaming is about as crooked a company as you’ll ever come across.

That, unfortunately, is a fact. With the tactics Wargaming employed, they make ENRON look like the Boy Scouts. This story gets a bit long, and sadly there is no “too long / didn’t read” for it. That said, here we go:

Back when Wargaming was developing World of Tanks, which would become it’s biggest (and lets face it, ONLY) money maker, they were really at their financial ends. The select group of private investors had sunk pretty much all they could into it. It was at this point that these same investors were looking to branch out into different areas – namely: real estate.

Well, any business man can tell you that there’s only so much money to go around, and when it’s your money, you limit spending it any chance you get. It’s always better to spend someone else’s money than it is yours; that way, if something should go south, they lose their money, you walk away with yours still intact.

So what can a privately held business do to get more financing when they’ve pretty much run out of collateral and have hit their limit with financial institutions?

Get listed on the stock market. And that, friends, is exactly what Wargaming did.

Now, in order to get listed on the Cyprus Stock Exchange, Wargaming had to not only disclose all of its assets, but also how much money it was making at the time and project how much money they were going to make in the future. It’s standard operating procedure for pretty much every stock exchange on the planet.

Wargaming did exactly that on October 25, 2011. You can find Wargaming’s Stock Exchange Filing here.

Now, at this point, it should be noted that everything is above board, or so it seems. The only real issue is looking into this filing one finds some interesting tidbits of information. Namely, the value they are placing on their stocks vs. how much they’re projecting they’re going to make. Here’s what Wargaming said they were worth:

  • 3,400,000 shares @10C each minimum value and 1€ already issued.

In other words, they’re saying that all of the shareholders combined have 3,400,000 shares that they value at 1€ each. It also states that no matter what, they have a minimum value of 10C (or about 11 cents U.S.)

Then, they float another 10,000,000 shares as authorized share capitol at 10C as well. So, at this point, what we have are 13,400,000 shares with a minimum value of 1,340,000€ or $1,474,201.

So where’s the billions you ask? Well, they simply don’t exist at this point. As they say on those TV sale ads though, “But wait! There’s more!”

Then you read just a bit further and you find this

All of the New Ordinary Shares will, upon Admission, rank pari passu in all respects with the existing Ordinary Shares in issue at the date of this document including the right to receive all future dividends and other distributions declared, paid or made in respect of the Ordinary Shares after Admission.

The operative phrase in that sentence is pari passu. That means “at the same rate” or “on equal footing with”. In other words, just by getting listed, they take a stock they just put a minimum value of 10C (11 cents) on and it magically all becomes worth 1€ ($1.11 present rate.)
 
So instantly, stock that just had a minimum value of 1,340,000€ ($1,474,200) INSTANTLY becomes worth 10 times that amount or 13,400,000€ ($14,742,009.98 present value)
 

That’s a pretty neat trick, isn’t it? So this is probably the part where you ask, “Why do this?” Well, here’s what Wargaming themselves said in that very same document:

GOALS – TARGETS – PROSPECTS – BUSINESS PLAN – FUNDRAISING
Reasons for Admission
The principle reason for the Listing is to operate under a proper EU structure, which will allow the Company to pursue its aggressive expansion drive correctly. The Company intends to utilize to the full the tax advantages that Cyprus offers and this is already much in evident for billing in the EU and paying EU’s lowest VAT rate in Cyprus. Furthermore, by being a listed company on a recognized EU member stock exchange such as Cyprus, the Company will be in a position to enter into Mergers & Acquisitions, either by cash or through issue of shares to reach its objective of accelerate growth of its core business as well as expansion into new markets, especially in the emerging countries. For 2012, the Company intends to intensify its efforts to penetrate the US market while in 2013 the aggressive expansion into China will be implemented.

Sounds legit, does it not? The reason this statement is relevant is because the argument made by all the World of Tank shills and trolls is that they don’t care, that they don’t need the EU, that they are so rich they don’t need anybody. So how could they not care when they just said they do and did some very creative valuation to do exactly that? We’ll get back to that a bit later.

So where is all this money? Well, lets start by taking a look at what Wargaming had done at this point in time and what they actually hoped to do. Here is their Projected Cash Flow Statements for years 2011 to 2014:

 

  2011 2012 2013 2014
Gross Turnover 6,618,284 42,339,564 68,442,819 87,629,879
Share Capitol Issue 2,500,000 0 0 0
Dividend Income 0 0 0 225,000
Total Cash Inflows 9,118,284 42,339,564 68,442,819 87,854,879
Total Cash Outflows 8,502,295 40,682,069 70,759,785 83,644,705
Net Cash Inflows 615,989 1,657,495 -2,316,966 4,210,174

 

So once again the question becomes, “Where’s the billions?” In short, there aren’t any. There never were any. That’s just more completely made up junk by the World of Tanks shills and trolls.

So what in fact did happen? Well, this is where it all goes pear shaped. The next time we get an official financial statement from Wargaming is in April of 2013, a year-and-a-half later. So what does it tell us? Well, it tells us that something very, very suspect is going on at the very least.

The only numbers we have that cover an entire year on this report, or for the entire history of Wargaming for that matter, is 2012. So lets all take a look at how the actual numbers from 2012 stack up to the projections they made for 2012 back in October of 2011:

 

  2012 Projected 2012 Actual
Gross Turnover 42,339,564 217,989,435
Share Capitol Issue 0  
Dividend Income 0 180,274 (Sundry Income)
Total Cash Inflows 42,339,564 218,169,709
Total Cash Outflows 40,682,069 211,974,992
Net Cash Inflows 1,657,495 6,194,717

 

This is where anybody in their right mind sits up, looks at this, and says, “how in the name of all that is holy did THAT happen?”

It is, at best, laughable on its face. So laughable in fact that it begs a closer look by the likes of Interpol. So what the hell happened in 2012? That’s a good question and it deserves a good answer.

What we know is that in 2012, immediately after getting listed, Wargaming went on a spending spree. In August of 2012, they bought the Big World engine that powers their games for $45,000,000. That’s a good chunk of change. Then in January of 2013, they bought Day 1 Studios for another $20,000,000. Just one month later in February, the purchased Gas Powered Games for an undisclosed amount.

So, if we go back a very short time in history to October 2011, and we roll forward just one year, Wargaming somehow increased it’s capital value by 1,382 percent!

Not even Bernie Madoff managed to do that. It’s an increase so incredible that it’s…well…incredible.

Remember that TV deal? But wait! There’s more!

After the financial report of all that money in April of 2013 that covered full year 2012, Wargaming would never, ever again file one single financial report.

Around the end of 2013, the Cyprus Stock Exchange began wondering what the holdup was with Wargaming filing it’s financial reports. By the spring of 2014, all Wargaming stocks were frozen from trading until such time as Wargaming came clean and caught up with all of the financial reports it had failed to file.

Wargaming never filed a single thing. By December of 2014, Cyprus had had enough. Wargaming stocks were kicked off the Cyprus Stock Exchange and they’ve never been listed anywhere ever since.

Now, to hear the corporate shills tell it, Wargaming did all of that on purpose because they don’t need the EU Stock Exchange and have more money than God. What’s even more ridiculous are some of those same people spreading stories about Wargaming grossing 500,000,000 dollars last year.

Those stories are, of course, completely false. They are fabricated based on the increase of the original projections and the financial report of 2013 that was never validated at all by any follow up reports.

In the end, Wargaming on its face looks exactly like ENRON, Bernie Madoff, Lehman Brothers, and other “cook the books” companies. All it takes is one good valuation done with “creative” accounting, and then you just ride out financing for as long as you possibly can.

It remains to be seen just how much longer Wargaming’s ride is going to last, but with the complete and epic failure of World of Warplanes, and the lackluster success of World of Warships as well as the decline in player base of World of Tanks, it in all likelihood is not going to be for much longer.

 

Conslusion:

The last Greek debt restructure really screwed Hellenic Bank hard. What they did was, in effect, split the debt; a large chunk of which was owned by Hellenic. It’s the same trick you pull with stocks to try to increase their value. Here’s the layman’s example:

You’ve got 100 bonds worth 10 dollars each. As time goes by, due to the economy, lost jobs, lost income, etc., they decrease in value to only 1 dollar. So you split them in half via paperwork and what you wind up with are 200 shares worth 50 cents each.

The hope in doing that is that with more bonds you can sell them to more people. If you can do that, more sales bring in more money so the value of the bonds increase. As that value increases you’re hoping to not only regain the money you lost initially, but actually increase it.

It’s a gamble that many companies in really bad shape try as a last resort. It very seldom works unless you’re already a very successful company that people are just dying to buy into.

The last restructure of Greek debt was essentially a huge stock split and it didn’t work. Not only did it not work, property values (which Wargaming have been buying up on credit as fast as they could) have plummeted to all time lows. That screwed them even harder. They bought it cheap thinking it couldn’t get any cheaper and were simply gambling that the new debt deal would give people the money to start buying again and they’d make big money.

It didn’t work. The economy is still [edited], money is nearly worthless and the property values got even lower. Wargaming are now having to pay off tons of real estate mortgages they can’t sell. It is, quite literally, as bad as it can get. There’s been a slight rebound lately, but at present they’re not even back to the values that they had when they went on a buying spree.

Why do you think Wargaming have shut down studios, locations and laid off hundreds of people the last three years? Why do you think they’re hurling crapinto the game hand over fist and turning it into an undecipherable quagmire of [edited]?

They’re absolutely desperate for money. They’re [edited] coming and going.

 

 

 

TLDR.  Learn to summarize mate.



EmperorJuliusCaesar #193 Posted Mar 20 2018 - 15:34

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View Postsleeper_agent, on Jan 08 2018 - 08:48, said:

After this years 1.0 upgrade to FULL HD, you will see a whole new rush of players. 

 

This game is far from dead, its just getting started.

 

No offense, but without 4k textures, I don't agree with calling it "Full" HD.



EmperorJuliusCaesar #194 Posted Mar 20 2018 - 15:35

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View PostWangOnTheLoose, on Jan 09 2018 - 05:54, said:

View Postsleeper_agent, on Jan 08 2018 - 11:48, said:

After this years 1.0 upgrade to FULL HD, you will see a whole new rush of players. 

 

This game is far from dead, its just getting started.

 

I am not buying that.  No doubt there will be an initial bump, probably even a substantial bump but I doubt that will last past 6 months.  This game has a good number of issues, and making HD maps doesn't solve them.

 

Exactly, once new players experience the crap slot machine based MM that decides 40% of battles before they start, they leave, it's really that simple.



EmperorJuliusCaesar #195 Posted Mar 20 2018 - 15:38

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View Postmattwong, on Jan 11 2018 - 09:53, said:

View Postcazando, on Jan 09 2018 - 21:55, said:

Not dead.....just dying.

 

Greed has sucked the life out of the game and the fun many had playing it.  Skewing outcomes to make bad players pay money and releasing OP tanks to make good players pay money had reduced the longevity of the game.  

 

WG did make money, so that's the most important point!

 

Now they can run down Wo WarShips and WoPlanes and suck the money out of those people until they quit!

 

WOT jumped the shark when they started selling premiums that easily outclass same-tier tech-tree equivalent tanks.  They had a rule about making premium tanks slightly worse than tech-tree tanks for years, because best-in-class premium tanks would be blatant pay-to-win.  When they started selling best-in-class premium tanks, that was a sign: the sign said "this business is a cash cow, and we're going to milk it for all it's worth".

 

No, WG learned a good lesson in business.  You sell a crap product, many will ignore it/not buy it.  If you want people to spend REAL money, then you must sell a good product, they did GREAT!  And good on them for doing so. If people don't want to pay for their entertainment, well then good riddance!!!!



JRingo20 #196 Posted Mar 20 2018 - 15:38

    Major

  • Players
  • 31552 battles
  • 2,047
  • Member since:
    11-06-2011

View PostNudnick, on Aug 01 2017 - 13:52, said:

No it's not.

 

Yea, It really is.

EmperorJuliusCaesar #197 Posted Mar 20 2018 - 15:48

    Major

  • Players
  • 37051 battles
  • 5,741
  • [EOR] EOR
  • Member since:
    03-16-2014

View Postlordpelvis, on Jan 11 2018 - 21:27, said:

I am sick of this crap...........gold rounds , arty sucks, wot is dying, Im leaving, .................all or you need a life...................stop crying on the forums........NO ONE CARES ON HERE

 

Without PREM rounds(NOT gold rounds as they can be bought with credits) you will see FAR more super heavies playing.

Arty is great, without it the game is boring, super predictable and tanks can dig in and you can't do anything about it except play for the draw.

If you want easy mode, without arty, play Blitz. 



nicodeimous #198 Posted Mar 20 2018 - 16:20

    Major

  • Players
  • 30351 battles
  • 2,505
  • [7-BDR] 7-BDR
  • Member since:
    06-22-2011

View PostTheSacred, on Aug 01 2017 - 14:49, said:

It's very sad to say that World of Tanks has come to this. Me as well as many others have played this game for years, and have had very fond memories playing with our friends and our clan mates. We've met people through teamspeak and creating friendships through platooning. The clan rivalries created have always been an interesting matter, whether those clans are on your side or an enemy of your ally. Its really unfortunate how little thought the World of Tanks team has put into keeping the player base around that has always played the game faithfully. With the lack of response on clan wars for over 2 months it is pretty clear that wargaming does not wish to continue clan wars, and would rather keep printing new tanks that we've seen already. I will continue to play World of Tanks now and again for the nostalgic feeling I've created toward it after playing for 5 years on and off. Unfortunately I've seen so many people on my friends list go dark, with their last battles being a long time ago. Even if wargaming does restart clan wars, the damage is done and the playerbase will not come back. I know many others feel this way as well. 

 

Too bad.

 

Though I am not a CW guy, my list went dark recently too.  For me its a number of largely unresolved issues that cause too much random in the game for me to enjoy it anymore.  well placed patiently aimed shots doing what ever, being snapped from extreme ranges by derps ... the list goes on and on.  When I started out the game wasn't fun, I convinced myself as I got better it would be - that hasn't actually panned out at all.  Most if not all of my platoon buddies have gone dark and moved on [for various reasons] - the game quickly enrages me and that's just not good for my health lol.

 

Like you I log in once in a while for the nostalgia of it all and to kick the dust off the tanks I have spent so long playing.  Perhaps when 1.0 bush cover decimator update hits I'll look around again ... maybe - though it seems with every update map wise they move closer and closer to brawls and further away from any kind of dynamic map play.

 

o7 tankers gone dark and the ones still pressing on.



nicodeimous #199 Posted Mar 20 2018 - 16:31

    Major

  • Players
  • 30351 battles
  • 2,505
  • [7-BDR] 7-BDR
  • Member since:
    06-22-2011

View PostInsurrectional_Leftist, on Aug 02 2017 - 18:35, said:

 

​Go back up and reread post #97, which apparently you didn't.  I expected you to come back with some credible sources, and Rita posted "Junk propaganda" which is clearly stated by the cited poster up post #97.  I mistakenly gave you too much credit for being smarter than that.  Why were you posting junk like this in first place, you know better than that!

 

Since you're going to post speculative, BS by wargaming, which WG itself has no official records to back any of this up with, ( and you and RITA post to the community as if that BS is official, then I'm going to post this here, then.)  Now, you give me something official to disprove this.. And by the way, what am posting below is based on official things that were posted from official financial records !! ------

 

 

About the most ridiculous argument the World of Tanks shills throw in everybody’s face constantly is, “With all the billions Wargaming makes, they don’t care about you!”

This argument gets thrown into the face of anybody that quits the game or criticizes it out of absolute frustration. There’s only one problem with that argument: It’s completely made up.

In order to understand just how off base and completely bogus that argument is, one just has to do a little homework and due diligence. Once one does that, one can only come to one conclusion:

Wargaming is about as crooked a company as you’ll ever come across.

That, unfortunately, is a fact. With the tactics Wargaming employed, they make ENRON look like the Boy Scouts. This story gets a bit long, and sadly there is no “too long / didn’t read” for it. That said, here we go:

Back when Wargaming was developing World of Tanks, which would become it’s biggest (and lets face it, ONLY) money maker, they were really at their financial ends. The select group of private investors had sunk pretty much all they could into it. It was at this point that these same investors were looking to branch out into different areas – namely: real estate.

Well, any business man can tell you that there’s only so much money to go around, and when it’s your money, you limit spending it any chance you get. It’s always better to spend someone else’s money than it is yours; that way, if something should go south, they lose their money, you walk away with yours still intact.

So what can a privately held business do to get more financing when they’ve pretty much run out of collateral and have hit their limit with financial institutions?

Get listed on the stock market. And that, friends, is exactly what Wargaming did.

Now, in order to get listed on the Cyprus Stock Exchange, Wargaming had to not only disclose all of its assets, but also how much money it was making at the time and project how much money they were going to make in the future. It’s standard operating procedure for pretty much every stock exchange on the planet.

Wargaming did exactly that on October 25, 2011. You can find Wargaming’s Stock Exchange Filing here.

Now, at this point, it should be noted that everything is above board, or so it seems. The only real issue is looking into this filing one finds some interesting tidbits of information. Namely, the value they are placing on their stocks vs. how much they’re projecting they’re going to make. Here’s what Wargaming said they were worth:

  • 3,400,000 shares @10C each minimum value and 1€ already issued.

In other words, they’re saying that all of the shareholders combined have 3,400,000 shares that they value at 1€ each. It also states that no matter what, they have a minimum value of 10C (or about 11 cents U.S.)

Then, they float another 10,000,000 shares as authorized share capitol at 10C as well. So, at this point, what we have are 13,400,000 shares with a minimum value of 1,340,000€ or $1,474,201.

So where’s the billions you ask? Well, they simply don’t exist at this point. As they say on those TV sale ads though, “But wait! There’s more!”

Then you read just a bit further and you find this

All of the New Ordinary Shares will, upon Admission, rank pari passu in all respects with the existing Ordinary Shares in issue at the date of this document including the right to receive all future dividends and other distributions declared, paid or made in respect of the Ordinary Shares after Admission.

The operative phrase in that sentence is pari passu. That means “at the same rate” or “on equal footing with”. In other words, just by getting listed, they take a stock they just put a minimum value of 10C (11 cents) on and it magically all becomes worth 1€ ($1.11 present rate.)
 
So instantly, stock that just had a minimum value of 1,340,000€ ($1,474,200) INSTANTLY becomes worth 10 times that amount or 13,400,000€ ($14,742,009.98 present value)
 

That’s a pretty neat trick, isn’t it? So this is probably the part where you ask, “Why do this?” Well, here’s what Wargaming themselves said in that very same document:

GOALS – TARGETS – PROSPECTS – BUSINESS PLAN – FUNDRAISING
Reasons for Admission
The principle reason for the Listing is to operate under a proper EU structure, which will allow the Company to pursue its aggressive expansion drive correctly. The Company intends to utilize to the full the tax advantages that Cyprus offers and this is already much in evident for billing in the EU and paying EU’s lowest VAT rate in Cyprus. Furthermore, by being a listed company on a recognized EU member stock exchange such as Cyprus, the Company will be in a position to enter into Mergers & Acquisitions, either by cash or through issue of shares to reach its objective of accelerate growth of its core business as well as expansion into new markets, especially in the emerging countries. For 2012, the Company intends to intensify its efforts to penetrate the US market while in 2013 the aggressive expansion into China will be implemented.

Sounds legit, does it not? The reason this statement is relevant is because the argument made by all the World of Tank shills and trolls is that they don’t care, that they don’t need the EU, that they are so rich they don’t need anybody. So how could they not care when they just said they do and did some very creative valuation to do exactly that? We’ll get back to that a bit later.

So where is all this money? Well, lets start by taking a look at what Wargaming had done at this point in time and what they actually hoped to do. Here is their Projected Cash Flow Statements for years 2011 to 2014:

 

  2011 2012 2013 2014
Gross Turnover 6,618,284 42,339,564 68,442,819 87,629,879
Share Capitol Issue 2,500,000 0 0 0
Dividend Income 0 0 0 225,000
Total Cash Inflows 9,118,284 42,339,564 68,442,819 87,854,879
Total Cash Outflows 8,502,295 40,682,069 70,759,785 83,644,705
Net Cash Inflows 615,989 1,657,495 -2,316,966 4,210,174

 

So once again the question becomes, “Where’s the billions?” In short, there aren’t any. There never were any. That’s just more completely made up junk by the World of Tanks shills and trolls.

So what in fact did happen? Well, this is where it all goes pear shaped. The next time we get an official financial statement from Wargaming is in April of 2013, a year-and-a-half later. So what does it tell us? Well, it tells us that something very, very suspect is going on at the very least.

The only numbers we have that cover an entire year on this report, or for the entire history of Wargaming for that matter, is 2012. So lets all take a look at how the actual numbers from 2012 stack up to the projections they made for 2012 back in October of 2011:

 

  2012 Projected 2012 Actual
Gross Turnover 42,339,564 217,989,435
Share Capitol Issue 0  
Dividend Income 0 180,274 (Sundry Income)
Total Cash Inflows 42,339,564 218,169,709
Total Cash Outflows 40,682,069 211,974,992
Net Cash Inflows 1,657,495 6,194,717

 

This is where anybody in their right mind sits up, looks at this, and says, “how in the name of all that is holy did THAT happen?”

It is, at best, laughable on its face. So laughable in fact that it begs a closer look by the likes of Interpol. So what the hell happened in 2012? That’s a good question and it deserves a good answer.

What we know is that in 2012, immediately after getting listed, Wargaming went on a spending spree. In August of 2012, they bought the Big World engine that powers their games for $45,000,000. That’s a good chunk of change. Then in January of 2013, they bought Day 1 Studios for another $20,000,000. Just one month later in February, the purchased Gas Powered Games for an undisclosed amount.

So, if we go back a very short time in history to October 2011, and we roll forward just one year, Wargaming somehow increased it’s capital value by 1,382 percent!

Not even Bernie Madoff managed to do that. It’s an increase so incredible that it’s…well…incredible.

Remember that TV deal? But wait! There’s more!

After the financial report of all that money in April of 2013 that covered full year 2012, Wargaming would never, ever again file one single financial report.

Around the end of 2013, the Cyprus Stock Exchange began wondering what the holdup was with Wargaming filing it’s financial reports. By the spring of 2014, all Wargaming stocks were frozen from trading until such time as Wargaming came clean and caught up with all of the financial reports it had failed to file.

Wargaming never filed a single thing. By December of 2014, Cyprus had had enough. Wargaming stocks were kicked off the Cyprus Stock Exchange and they’ve never been listed anywhere ever since.

Now, to hear the corporate shills tell it, Wargaming did all of that on purpose because they don’t need the EU Stock Exchange and have more money than God. What’s even more ridiculous are some of those same people spreading stories about Wargaming grossing 500,000,000 dollars last year.

Those stories are, of course, completely false. They are fabricated based on the increase of the original projections and the financial report of 2013 that was never validated at all by any follow up reports.

In the end, Wargaming on its face looks exactly like ENRON, Bernie Madoff, Lehman Brothers, and other “cook the books” companies. All it takes is one good valuation done with “creative” accounting, and then you just ride out financing for as long as you possibly can.

It remains to be seen just how much longer Wargaming’s ride is going to last, but with the complete and epic failure of World of Warplanes, and the lackluster success of World of Warships as well as the decline in player base of World of Tanks, it in all likelihood is not going to be for much longer.

 

Conslusion:

The last Greek debt restructure really screwed Hellenic Bank hard. What they did was, in effect, split the debt; a large chunk of which was owned by Hellenic. It’s the same trick you pull with stocks to try to increase their value. Here’s the layman’s example:

You’ve got 100 bonds worth 10 dollars each. As time goes by, due to the economy, lost jobs, lost income, etc., they decrease in value to only 1 dollar. So you split them in half via paperwork and what you wind up with are 200 shares worth 50 cents each.

The hope in doing that is that with more bonds you can sell them to more people. If you can do that, more sales bring in more money so the value of the bonds increase. As that value increases you’re hoping to not only regain the money you lost initially, but actually increase it.

It’s a gamble that many companies in really bad shape try as a last resort. It very seldom works unless you’re already a very successful company that people are just dying to buy into.

The last restructure of Greek debt was essentially a huge stock split and it didn’t work. Not only did it not work, property values (which Wargaming have been buying up on credit as fast as they could) have plummeted to all time lows. That screwed them even harder. They bought it cheap thinking it couldn’t get any cheaper and were simply gambling that the new debt deal would give people the money to start buying again and they’d make big money.

It didn’t work. The economy is still [edited], money is nearly worthless and the property values got even lower. Wargaming are now having to pay off tons of real estate mortgages they can’t sell. It is, quite literally, as bad as it can get. There’s been a slight rebound lately, but at present they’re not even back to the values that they had when they went on a buying spree.

Why do you think Wargaming have shut down studios, locations and laid off hundreds of people the last three years? Why do you think they’re hurling crapinto the game hand over fist and turning it into an undecipherable quagmire of [edited]?

They’re absolutely desperate for money. They’re [edited] coming and going.

 

 

 

Good read, thanks for the insightful explanations. 



Icon_Charlie #200 Posted Mar 20 2018 - 19:09

    Captain

  • Players
  • 14188 battles
  • 1,055
  • [-DRB-] -DRB-
  • Member since:
    09-18-2013

Here's there Austin  Office... heh  ONLY 27 PEOPLE BEING RAN BY A BELARUS LEAD DEVELOPER THAT WAS SENT TO THE U.S. FROM MINSK.

Almost all of the US employees lost their jobs in Emeryville.  But they sure love them Russians.

 

By the way... here is a picture of the Austin Office. Found it on another site and blacked out the offensive word... though it does sort of fits considering why the game is dying and is almost dead in NA.

 

 

 

Attached Files

  • Attached File   Wargaming-Austin-Officea.jpg   116.83K






Also tagged with worldoftanks, clanwars, wargaming

1 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users