Conspiracy Entertainment Reports Smaller Annual Loss

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Developer and publisher Conspiracy Entertainment reported its financial results for its fiscal year ended December 31, 2007.
For the year, Conspiracy Entertainment reported a net loss of $899,004, compared to a net loss in the previous year of $4,286,284. While still operating at a loss, that is a considerable improvement. The company's net sales in 2007 were $8.79 million compared to $0.80 million in 2006, so it's not hard to see how the company's operations have improved – by selling more games.

In the company's annual report, it did acknowledge that the company may have to raise further working capital and that there is substantial doubt about Conspiracy's ability to continue as a going concern. This concern was also expressed by the company's auditors. However, the company is busy ramping up its release schedule. Conspiracy Entertainment's President, Sirus Ahmadi, noted that "...we plan to release up to 20 games over the 2008/2009 period."

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This page contains a single entry by Editor published on April 15, 2008 3:14 PM.

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