Current Report No. 24/2023: Signing of a Letter of Intent Regarding a Production Agreement

Key insights

5 takeaways · ~2 min read

01
PCF Group S.A. has signed a non-binding Letter of Intent to develop a virtual-reality action/combat game codenamed “Dolphin” for a major U.S. entertainment company.
02
The project is structured as a work-for-hire agreement, with the publisher retaining intellectual property rights within contractual limits.
03
The estimated production budget for the title is between 16 million and 24 million USD.
04
Development is scheduled to conclude in 2025, with a target release across current and future leading VR hardware platforms.
05
The Letter of Intent does not guarantee a final production contract, and negotiations for a formal agreement are ongoing.

Summary

The report announces that PCF Group S.A., headquartered in Warsaw, entered into a non‑binding Letter of Intent on 17 June 2023 with a prominent U.S. entertainment company to develop a virtual‑reality action/combat video game under the code name “Dolphin.” The intent is to negotiate a production agreement with a publisher or its affiliate, under which PCF will act as a work‑for‑hire developer. The publisher’s total budget for the project is estimated between 16 million and 24 million USD, with intellectual property rights ultimately belonging to the publisher within contractual limits. Development is projected to conclude in 2025, with release planned for current and future leading VR hardware platforms. The report clarifies that signing the Letter of Intent does not guarantee a final production contract, and further details will be disclosed in a separate public update. The scope covers the U.S. entertainment partner and global VR platforms, focusing on action/combat gameplay. No survey or statistical methodology is cited; the information derives from corporate governance announcements and contractual estimates.