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7 Days left

Pineleaf - A game studio designed for growth

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Please post your question in English so that all of our investors are able to participate in the discussion.

anonymous 4 days ago

When will the 2020 accounts be released, and how much debt will be repaid with the proceeds?

anonymous 4 days ago

Found the 2020-accounts in the pitch, but it was not sent in to Brønnøysund yet where I looked first...

anonymous 4 days ago

I notice that only 2 out of 5 Board members have signed the 2020 accounts. Those who did not sign, did they have problems with it? Also, why not have an auditor when you go for public money?

Pineleaf Studio
Pineleaf AS
4 days ago

That sounds about right. We're reporting to Brønnøysund in August. But is here, as you mention. It is just the CEO and Chairman of the Board that sign the annual account - whereas everyone votes to approve the annual accounts and register their approval by voting unanimously. We're going to see if we can find a way to show the record of that for you.

As for auditor, you're right. With public funding we do need an auditor to check approve the budgets. These have so far been small "chapters" of the project and do not include all the company's cost - as some costs cannot be covered by public funding. But we agree that we should have an auditor sign off on the annual account and will look into getting that done relatively quickly.

anonymous 11 days ago

How did you arrive at the Calculations of expected revenue for 2021 and 2022?

So with the big launch, you predict in 2021 the increase is revenue is about 230000 eur compared to 2020. This is considering you launch in September, so 4 months of post launch. That means, with 12 months of post launch, you could have 600000 eur additional revenue in 2022 compared to 2020. That puts the revenue in the ballpark of 1 million eur, not 2 million eur as you predict.

So what do you think will change in 2022 to increase revenues? Do you have any big plans for franchising partners, or any other monetization schemes?

Pineleaf Studio
Pineleaf AS
10 days ago

Thanks for asking! This may not come across well enough in the pitch - so we're happy to reply.

  1. In January 2022 we plan to launch our eshop for microtransactions for players to be able to buy skins and other cosmetics for the game. In these calculations we've predicted that about 10% of the players who have bought the game will be interested in purchasing these types of items.

  2. Our goal is to develop DwarfHeim to make it attractive to esport tournaments. We have established some communication with esport tournaments and events this year which we feel confident will result in DwarfHeim's participation in 2022. This will increase DwarfHeim's visibility and we believe that it will also increase sales, both for the game and the cosmetics that will be available for sale.

  3. DLC. In 2022 we have planned to release two DLCs for DwarfHeim. One will be released in Q2 and the other late Q3/early Q4.

Please feel free to keep asking. ;)

anonymous 12 days ago

Hello and thank you very much for an interesting pitch! Here are my questions to you:

1: I understood that Dwarfheim game is a team based game where 3 players on both sides play against each other. Assuming that a player would want to play "solo", how large of a user base is needed to have reasonable game queuing times? I see a risk that if the game community is low, there will be low interest for new players to start playing (if a player cannot find other players to play with). What is your thinking here?

2: Can you describe the early access game sales pace after launch? Can you describe the player activity of the early access game (according to SteamDB there are currently only 6 players in-game)?

3: The reviews of the early access game in Steam have highlighted that the game requires significant polishing. How comfortable you feel about the stated timeline of September 2021 in terms of final game release?

4: The company is EBITDA positive yet requires additional funding. Can you describe the amount of capitalized game development costs (or any other cost capitalizations) in 2020, in 2021 year-to-date and 2021 year-to-go?

5: Can you describe the role and of your publisher in marketing of the game? Can you describe the revenue share between you as a developer and your publisher? Is there anything else that investor should know between the contractual arrangements between you as a developer and your publisher (such as IP rights).

Pineleaf Studio
Pineleaf AS
10 days ago

Hey! And thanks so much for asking! We're going to answer your questions in two parts. Second half should be coming later today.

  1. This is something we are constantly working on internally. Firstly, we have different game modes that can be played as single-player. You can play all the game classes alone in our PvE mode, Survival. Our Skirmish mode also has single player opportunities where you can play both with AI and against DwarfHeim AI. Sandbox mode is also a great mode to train your skills on each class as a single player, or perhaps set up a customizable game where you can set up matches with and against your Steam friends. The PvP mode, Conquest, is dependent on there being several players playing at the same time as you. At the moment we are solving this issue with a "Looking For Group" channel on our Discord and also creating peak times to play PvP. Like the community night we had last night where players could pick up double xp points and play against the devs.

  2. Sure! We had over 100 000 registered wishlisters when we launched into Early Access in October and we expected a higher conversion of these into sales but it turned out that our core gamers, RTS gamers, prefer games to wait for full release. We’ve increased our registered wishlisters to about 115 000, which we’re expecting a 15-20% conversion on at launch. We feel that 25 000 units sold is a solid foundation to work from and proves that our game has a market. We’ve worked a lot with our community, our most avid players, on refining the game and improving DwarfHeim’s replayability and balancing. We needed players in order to see what the game needed. We found the gamers and together we have created a community that is heavily integrated in our development process. You are correct that there are times where there can be only 6 people playing the game. Yesterday was unique as you checked right before the community game night which started at 8 pm CEST we also had a special event where players could earn double xp points that started then. Most of our players would wait until that was “on”. Having said that - there definitely are periods that the player numbers are low. We see it as our job to make information available to our players to let them know peak times. The goal is to have enough players every hour every day. But in Early Access we need to encourage the players to play during peak times. And they are!

  3. The whole team is giving you a unified “yes” for that one. We’ve learned a lot about the game, what we are able to accomplish and worked hard on finding solutions to what the players are having issues with. We feel very confident that we will be presenting a finished product at launch.

Pineleaf Studio
Pineleaf AS
10 days ago

Sorry for the delay again! 4. This is mostly due to delay in payouts. The income that we predict from sales at launch in September will be received from the distributor in late November/early December and so on.

anonymous 8 days ago

Thank you for the answers, they are greatly appreciated!

Some followups: 2. What is your expectated conversion of 15-20% of wishlisters into buyers based on? 5. You did not answer this one yet (see the question above in my original post), if you can only answer partly it would also be helpful!

Jussi Koiranen 5 days ago

I'm also interested in the publisher deal and it's specifics. If you could clarify them to some extent especially why you see a risk in the deal breaking. Are they expecting some minimum sales?

Pineleaf Studio
Pineleaf AS
4 days ago

Ahh ... nice to meet you Jussi! Thanks for using your name. It "feels" better, but is no excuse for being so tardy on my answer to you!

The expected conversion of 15-20% of wishlisters into buyers is based on the trends that we've seen during Early Access, but also from having conversations with other game studios that both have been through the Early Access process and work with RTS games. We were much more optimistic about the Wishlist conversion a year ago. so this is our new estimate based on experience and research and is one that we feel comfortable with.

When it comes to the publisher specifics I've neglected in answering because I've been uncertain if I share it here, is it considered public information as I'm certain they would prefer that their terms not be published publicly. Would you mind sending me your e-mail to : [email protected] or just posting it here, and I'll send them to you.

That goes for anyone else that is interested as well!

Thanks for understanding!

Best,

Linn

M.T. Prods. 12 days ago

Are there any perks for shareholders?

Pineleaf Studio
Pineleaf AS
11 days ago

Sorry for the late reply MT Prods.

As a shareholder you will receive exclusive news about the company and our strategies ahead and also have a chance to contribute with input and ideas. we'll also make sure that you have VIP treatement at future events and the game, of course.

Other than that - we haven't thought of anything in particular and will definitely be thinking about it over the weekend.

May ask what perk would be attractive for you?

anonymous 10 days ago

Actually I would not invest in your company because of a perk but e.g. Fantastic gave to every shareholder a hoody, a cap, a shirt and a lanyard...it is also good advertising for you :-)

Pineleaf Studio
Pineleaf AS
7 days ago

Thanks for the tip!

M.T. Prods. 6 days ago

Hi, I am a bit late too. ;-) Maybe you can try to give investor charakters a special in-game outfit or equipment or a free game access?

Pineleaf Studio
Pineleaf AS
4 days ago

Ha ha! We think it's a great idea - but not sure if we can implement it.

anonymous 12 days ago

What s your timeline for an IPO or when do you want to sell the company? Valuation is high, how is the calculation for this valuation? I always prefer figures :-) You have a lot of investors therefore this is not your first Crowdfunding round or? With which valuation the other investors got the shares? Game sector is a future market, I want to understand the valuation because at the moment without more knowledge it is too high! BR Reinhold

Pineleaf Studio
Pineleaf AS
12 days ago

Thank you for taking interest in Pineleaf and for your relevant question. First, there is no time line at this moment for either an IPO or selling the company. We are fully committed to Pineleaf and are looking forward to continue building a successful gaming studio while also be a very contributing force in building a strong gaming industry in Norway. Regarding the valuation we actually think it is very fair and if anything in the lower range for companies like us. To support this view I can tell you that members of the board and management team (incl CEO and CFO) are investing in this round. We derive the valuation of Pineleaf from the basis that we have spent five years developing what we believe is a game for the future; a RTS game designed for competitive co-op and thus suitable for e-sport events. While developing the game we have created our own proprietary platform for game developing. Our first title, DwarfHeim, has been launched in Early Access version and already sold over 25 000 copies. The full version will be ready for launch in September/October this year. We have over 100 000 gamers who have added the coming full version of the game on their wish list to buy. In addition to revenues from selling the game we are expecting additional revenue streams in form of micro transactions, DLC, cometics and merchandise. And finally, DwarfHeim is the first of many more titles we hope to develop in the future with our next title already in concept stage.

anonymous 10 days ago

Thanks for your answer! It is great that you have a positiv result in 2020. Nearly half of 2021 is finished, will be 1-6 2021 also positiv and also the whole year?

anonymous 4 days ago

Planning to make an investment, but sceptical as the company does not have an auditor to sign off the accounts. Why has this not happened yet? Not serious to go public for investment without audited numbers.

Pineleaf Studio
Pineleaf AS
1 day ago

Hey! We are not required to have our annual accounts audited in Norway so we didn't think that it was necessary for this campaign.