The RoyaLand Company Ltd. Announces Preliminary Selected Unaudited Results for the Fiscal Year Ended June 30, 2024
The RoyaLand Company, focused on creating an immersive fantasy-based royalty-themed experience called myRoyal.World, has announced preliminary unaudited financial results for the fiscal year ended June 30, 2024. The company, which plans to trade under the ticker RLND, expects to record an adjusted net loss of approximately $1.1 million.
As a development stage company, RoyaLand's largest expense was product research and development costs of about $0.4 million. Other significant expenses included legal and accounting fees of approximately $0.4 million, and consulting fees of about $0.2 million, which included $175,000 of stock-based compensation. The company notes that these results are preliminary and subject to completion of accounting and audit procedures.
L'azienda RoyaLand, focalizzata sulla creazione di un'esperienza immersiva basata sulla fantasia e sul tema della regalità chiamata myRoyal.World, ha annunciato i risultati finanziari preliminari non verificati per l'anno fiscale conclusosi il 30 giugno 2024. L'azienda, che intende quotarsi con il ticker RLND, prevede di registrare una perdita netta rettificata di circa 1,1 milioni di dollari.
In quanto azienda in fase di sviluppo, la principale spesa di RoyaLand è stata i costi per la ricerca e lo sviluppo del prodotto di circa 0,4 milioni di dollari. Altre spese significative includono spese legali e contabili di circa 0,4 milioni di dollari, e compensi per consulenze di circa 0,2 milioni di dollari, che comprendono 175.000 dollari di compenso basato su azioni. L'azienda sottolinea che questi risultati sono preliminari e soggetti al completamento delle procedure contabili e di audit.
La empresa RoyaLand, centrada en crear una experiencia inmersiva basada en la fantasía y con temática de realeza llamada myRoyal.World, ha anunciado resultados financieros preliminares no auditados para el año fiscal que terminó el 30 de junio de 2024. La empresa, que planea cotizar bajo el ticker RLND, espera registrar una pérdida neta ajustada de aproximadamente 1,1 millones de dólares.
Como empresa en etapa de desarrollo, el mayor gasto de RoyaLand fue los costos de investigación y desarrollo de productos de aproximadamente 0,4 millones de dólares. Otros gastos significativos incluyeron honorarios legales y contables de aproximadamente 0,4 millones de dólares, y honorarios de consultoría de alrededor de 0,2 millones de dólares, que incluyeron 175.000 dólares en compensación basada en acciones. La empresa señala que estos resultados son preliminares y están sujetos a la finalización de los procedimientos contables y de auditoría.
로얄랜드 회사는 판타지 기반의 왕족 테마 경험인 myRoyal.World를 제작하는 데 집중하고 있으며, 2024년 6월 30일에 종료된 회계 연도의 예비 감사되지 않은 재무 결과를 발표했습니다. RLND라는 티커를 통해 거래할 계획인 이 회사는 약 110만 달러의 조정된 순손실을 기록할 것으로 예상하고 있습니다.
개발 단계의 회사로서 로얄랜드의 가장 큰 비용은 약 40만 달러의 제품 연구 및 개발 비용이었습니다. 다른 주요 비용으로는 약 40만 달러의 법률 및 회계 수수료, 그리고 약 20만 달러의 컨설팅 수수료가 포함되며, 이 중 175,000달러는 주식 기반 보상입니다. 이 회사는 이러한 결과가 예비적이며 회계 및 감사 절차 완료에 따라 달라질 수 있음을 언급하고 있습니다.
La société RoyaLand, axée sur la création d'une expérience immersive basée sur la fantaisie et thématique de la royauté appelée myRoyal.World, a annoncé des résultats financiers préliminaires non audités pour l'exercice clos le 30 juin 2024. La société, qui prévoit de négocier sous le ticker RLND, s'attend à enregistrer une perte nette ajustée d'environ 1,1 million de dollars.
En tant qu'entreprise en phase de développement, la plus grande dépense de RoyaLand a été les coûts de recherche et développement du produit d'environ 0,4 million de dollars. D'autres dépenses significatives incluent des frais juridiques et comptables d'environ 0,4 million de dollars, et des frais de consultation d'environ 0,2 million de dollars, dont 175 000 dollars de rémunération basée sur des actions. La société souligne que ces résultats sont préliminaires et soumis à l'achèvement des procédures comptables et d'audit.
Die RoyaLand Company, die sich darauf konzentriert, ein immersives, fantasiebasiertes Erlebnis mit königlichem Thema namens myRoyal.World zu schaffen, hat vorläufige, ungeprüfte Finanzergebnisse für das am 30. Juni 2024 endende Geschäftsjahr bekannt gegeben. Das Unternehmen, das plant, unter dem Ticker RLND zu handeln, erwartet eine angepasste Nettoverschuldung von etwa 1,1 Millionen Dollar.
Als Entwicklungsunternehmen waren die größten Ausgaben von RoyaLand Produktforschungs- und -entwicklungskosten von etwa 0,4 Millionen Dollar. Weitere signifikante Ausgaben umfassten Rechts- und Buchhaltungsgebühren von etwa 0,4 Millionen Dollar sowie Beratungsgebühren von etwa 0,2 Millionen Dollar, die 175.000 Dollar an aktienbasierter Vergütung beinhalteten. Das Unternehmen weist darauf hin, dass diese Ergebnisse vorläufig sind und von der Vollziehung der Buchhaltungs- und Prüfungsverfahren abhängig sind.
- Development of immersive fantasy-based royalty-themed experience myRoyal.World
- Significant investment in product research and development ($0.4 million)
- Adjusted net loss of approximately $1.1 million for fiscal year 2024
- High legal and accounting fees of approximately $0.4 million
- Consulting fees of approximately $0.2 million, including $175,000 in stock-based compensation
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HAMILTON, Bermuda, Sept. 20, 2024 (GLOBE NEWSWIRE) -- The RoyaLand Company Ltd. (Proposed OTC Markets Ticker: RLND) (RoyaLand), a Bermuda holding company focused on creating an online and offline immersive, fantasy-based royalty-themed experience called myRoyal.World, primarily centered around a mobile-first massively multiplayer online role-playing game, or MMORPG, called TheRoyal.Land, today announced preliminary selected unaudited financial results for its fiscal year ended June 30, 2024.
For the year ended June 30, 2024, RoyaLand expects to record an adjusted net loss of approximately
The preliminary selected unaudited results in this press release are preliminary and subject to the completion of accounting and audit procedures and are therefore subject to adjustment.
About RoyaLand: RoyaLand is a Bermuda holding company focused on creating an online and offline immersive, fantasy-based royalty-themed experience called myRoyal.World, primarily centered around a mobile-first massively multiplayer online role-playing game, or MMORPG, called TheRoyal.Land. We are actively focused on developing what we believe to be a novel, interactive and immersive game based on a player-empowered design. We plan to build proprietary digital avatars and provide opportunities to players to earn in-game reward currency, build virtual land, and own their online assets while enhancing all of these features with what we consider to be premium incremental in-game content.
We are developing TheRoyal.Land and myRoyal.World in collaboration with our founder, the Monaco-based grandson of the last King of Italy, Emanuele Filiberto di Savoia, who claims the titles of His Royal Highness, Prince of Venice, and Prince of Piedmont and is also referred to as the hereditary “Prince of Italy.” In addition, with the support of and affiliation with seven other royal families and families with legal, hereditary or historically based claims to royal positions in Russia, Albania, France, Bulgaria, Yugoslavia, Lesotho, and Mecklenburg collectively referred to as the Royal Families, TheRoyal.Land is intended to deliver this unique past-meets-future entertainment experience.
We believe that TheRoyal.Land will introduce the first historically inspired monarchy-based MMORPG, founded by the Prince of Italy and reinforced by the Royal Families.
Our objective is to connect and engage with players from around the world through royalty-themed entertainment by becoming a worldwide leader in the development, publishing, and distribution of high-quality interactive entertainment content and services, as well as related media, that deliver engaging entertainment experiences to our network of connected players on a year-round basis. Players, in their selected roles, will represent every part of TheRoyal.Land society. From the Artisans that guide the skilled trades of old to the Knights and Squires that guard the Realm. From Prisoner to Prince, each role will hold specific purposes, abilities, skills, chances for advancement, and adventures.
To that end, we expect to capitalize on the expanding video games market, with worldwide revenue expected to grow to approximately
We are currently in the development phase for TheRoyal.Land and myRoyal.World. On June 30, 2023, we entered into a project agreement with Neosperience S.p.A., or Neosperience, pursuant to which Neosperience will design and develop TheRoyal.Land using its proprietary technology. The first phase of the project agreement has already commenced. Neosperience plans to use its models to create complex and dynamic in-game environments and realistic and emotive characters and to assist with dynamically adjusting the difficulty level and game balance in real time based on player behavior and performance to keep the game challenging yet rewarding. For example, Neosperience’s technology is designed to imbue non-player characters, or NPCs, with various behaviors, which we believe makes them seem more lifelike and responsive thereby enhancing player immersion and creating a more engaging gameplay experience. Additionally, Neosperience intends to use advanced modeling and rendering techniques to create realistic player characters and NPCs that dynamically interact utilizing a full range of human-like emotions, reactions and movements giving them a depth of character which we believe is rarely seen in video games.
Learn more at www.TheRoyal.Land and follow us on X (formerly Twitter), Instagram and Facebook.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to RoyaLand’s preliminary and unaudited expected financial results for the year ended June 30, 2024. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Any forward-looking statements contained in this press release speak only as of the date of this press release. RoyaLand specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
INVESTOR CONTACT: Bryan Elbez, CFO
bryan@theroyal.land
Source: The RoyaLand Company Ltd.
| THE ROYALAND COMPANY LTD SUMMARY CONSOLIDATED FINANCIAL RESULTS (UNAUDITED) | ||||
| SUMMARY STATEMENT OF OPERATIONS | Year Ended June 30, 2024 | |||
| Operating expenses: | ||||
| Product research and development | $ | 413,532 | ||
| Legal and accounting | 408,012 | |||
| Consulting | 175,439 | |||
| All other | 62,991 | |||
| Total operating expense | 1,059,974 | |||
| Operating loss | (1,059,974 | ) | ||
| Total other income | 1,107 | |||
| Loss before provision for income taxes | $ | (1,058,867 | ) | |
| SUMMARY BALANCE SHEET | June 30, 2024 | |||
| ASSETS | ||||
| Current assets: | ||||
| Cash | $ | 261,476 | ||
| Deferred offering costs | 90,611 | |||
| Prepaid expenses | 8,661 | |||
| Total current assets | 360,748 | |||
| Total Assets | $ | 360,748 | ||
| LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||
| Shareholders’ Equity (Deficit): | ||||
| Preference shares, par value | $ | – | ||
| Common shares – Class A, par value | 1,880 | |||
| Common shares – Class B, par value | 895 | |||
| Additional paid-in capital | 2,070,937 | |||
| Subscription receivable | (200 | ) | ||
| Other comprehensive gain | 598 | |||
| Accumulated deficit | (2,130,864 | ) | ||
| Total Shareholders’ Deficit | (56,754 | ) | ||
| Current Liabilities: | ||||
| Accounts payable and accruals | 60,218 | |||
| Accrued legal and accounting | 346,730 | |||
| Due to related parties | 10,554 | |||
| Total current liabilities | 417,502 | |||
| Total Liabilities | 417,502 | |||
| Total Liabilities and Shareholders’ Deficit | $ | 360,748 | ||
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/194752ba-4e7b-4ec9-9d5e-b57427681572
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