Simteract wants to intensify work on new projects
During the General Meeting on November 14, 2022, Simteract plans to adopt the authorized capital. As a result, the management board wants to gain flexibility in talks with potential investors, including strategic partners. Currently, the company is working intensively on Taxi Life: A City Driving Simulator and is planning two more projects, one of which is to allow Simteract to expand its operations beyond the simulator genre.
The Supervisory Board issued a positive recommendation to adopt 20% of the target capital of the company – we have convened the General Meeting to obtain this possibility. We are recognized internationally. We conduct talks with potential partners and need flexibility in making quick decisions that can help accelerate the further development of Simteract – comments Marcin Jaśkiewicz, president of Simteract.
The company recently released its first game, Train Life: A Railway Simulator. In August 2022, the title debuted in full version on computers, where it received 75% positive reviews on Steam, and it also premiered on PS4, PS5, Xbox One and Xbox S | X a month later. Work is underway on the second Simteract project, Taxi Life: A City Driving Simulator, which is scheduled for a release next year. The publisher of both games is the French company NACON.
The company is already planning two more projects. The first one, Project Prodigy, is a premium simulator.
Our achievements in the field of simulators have been recognized by leading publishers of this genre. We are negotiating several very interesting projects, with IP known to a wide group of players. They have the potential to become the largest projects we have worked on so far. We plan to start work in early 2023. I hope that in the near future I will be able to reveal more details – continues Jaśkiewicz.
The second, Project North Star, is to expand the business beyond simulators, and Simteract will finance it from its own resources.
We are in the middle of the biggest brainstorm in the history of Simteract. Every person in the company takes part in it. Project North Star is to set new opportunities for the company’s development. We want to announce it relatively early, but there are many decisions ahead of us regarding the direction of this project, including the possibility of cooperation with a publisher or self-publishing. Work on the project has already started and will intensify in early 2023. We will adjust the announcement of the project to the marketing strategy so as to maximize its commercial potential – concludes Jaśkiewicz.
