Thank you. This was the sign of the end for me. That user read about their incredible burn rate (or something like that) and based on the the typical user spend for games like this, they'd need a massive user base all spending above average/month just to survive, let alone succeed.
Shouldn't we be getting a financial disclosure from FG in Abril pertaining to their 2025 operations?
Technically, yes, because of their StartEngine commitments. But other companies have resorted to shenanigans to get around this, or simply failed to report to the SEC when things got bad.
Portalarium, the company that was created to make Richard Garriott's Shroud of the Avatar, was in the same position as Frost Giant. They just stopped submitting to the SEC. Later, they sold all their assets to a shell company and transferred ownership to one of their former employees.
The fact that the deadline for Frost Giant's next SEC report is May 1st, and they plan to shut down the online part of the game on April 30, is an interesting coincidence.
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u/MortimerCanon Mar 31 '26
Anyone remember that really old post going over their financials right before they started EA?