Starbreeze has announced that it plans to release PAYDAY 3 sometime between 2022 and 2023. Furthermore, the team predicts that its future cash flows will be positive, based on expected new publishing agreements in 2020.
According to the press release, the publishing agreement for PAYDAY 3 will be concluded during the first half of 2020. Moreover, an initial payment installment will be received, after which the continued development of the product will be financed by the publishing partner.
Starbreeze has also provided more information on the ongoing reconstruction work.
“As part of the reconstruction, assets and personnel attributable to the core business have been transferred to two new companies, New Starbreeze Publishing AB and New Starbreeze Studios AB. IP rights make up the majority of the assets and have been transferred to New Starbreeze Publishing AB. It is in New Starbreeze Publishing AB that the Group’s cash flows will be generated.
In the reconstruction work, one of the four major international accounting firms has also valued the company’s assets, which is the basis for the transfer of assets that has taken place to the subsidiary New Starbreeze Publishing AB. These assets (mainly IP rights for PAYDAY) have been valued at SEK 1,600 million. Corresponding assets are recognized in the consolidated balance sheet at SEK 333 million as of June 30, 2019.
The reconstruction work is continuing and the company intends to present a reconstruction plan shortly. As part of this work, the company will send letters to the creditors in the next few days with proposals for settlement. The letters will be followed by composition negotiations, after which the final reconstruction plan will be presented.”