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Legal
PCF Group Current Report No. 24/2023: Letter of Intent Signed for New Game Project
PCF Group S.A. has entered into a non-binding letter of intent with a prominent United States-based entertainment entity to develop a new virtual reality title under the code name Project Dolphin. This collaboration marks a strategic expansion into the VR action and combat genre, with the project slated for release on both current and future major virtual reality hardware platforms. The agreement outlines a work-for-hire development model, where the studio will execute the project on behalf of the publisher in exchange for fixed remuneration rather than retaining intellectual property rights. The financial scope of the production is significant for the VR segment, with an estimated development budget ranging between 16 million and 24 million USD. Under the proposed terms, the publisher will retain full ownership of the intellectual property and all associated rights resulting from the development process. This partnership aligns with the studio’s broader strategy of diversifying its project portfolio while leveraging external funding for high-fidelity production. The development timeline aims for completion by the end of 2025. While the letter of intent establishes the framework for the partnership and triggers formal negotiations for a definitive development agreement, it remains non-binding at this stage. The finalization of the contract is subject to successful negotiations, and the studio maintains a neutral outlook regarding the certainty of the final execution. This disclosure, issued in mid-2023, reflects the company's ongoing efforts to secure large-scale production contracts within the global gaming market.
PCF GroupJun 2023
Legal
PCF Group Current Report No. 54/2023: New Game Project Contract Signed
The report announces thatPCF Group S.A., headquartered in Warsaw, has entered into a development agreement with its subsidiary Incuvo S.A. in Katowice to launch a new video‑game project codenamed “Bison.” The decision follows an internal assessment of market conditions, production capacity and the group’s capital resources, and is grounded in Article 17(1) of the MAR Regulation. “Bison” is defined as a survival‑adventure title built on intellectual property owned by the People Can Fly group and targeted at current and next‑generation virtual‑reality hardware. The entire development will be financed by PCF Group, which will also oversee the creation of a market‑ready product and its commercial rollout. Unity is specified as the graphics engine for the project, reflecting the company’s existing technical expertise and infrastructure. The agreement, signed on 12 November 2023, outlines that Incuvo will provide the necessary development services while PCF retains responsibility for final product delivery and sales. The planned launch window spans 2024 to 2025, positioning the game within the rapidly expanding VR segment in Poland and broader European markets. No external data sources or survey samples are cited; the conclusions rest on the company’s internal market analysis and resource evaluation.
PCF GroupNov 2023
Legal
Raport bieżący nr 7/2024: Rozliczenie kosztów produkcji gry „Bulletstorm VR”
The settlement report records the final accounting and contractual resolution between PCF Group S.A., headquartered in Warsaw, and its subsidiary Incuvo S.A. of Katowice concerning the development of the virtual‑reality title “Bulletstorm VR.” It confirms that, as of 15 March 2024, the parties concluded the remaining production milestones that spanned the period leading up to the game’s launch on 18 January 2024, and that PCF, acting as publisher, invoiced Incuvo for development and quality‑assurance services in the amount of 871 157,59 złoty. The agreement also stipulates a mutual termination of the production‑publishing contract effective 19 January 2024, driven by an unsatisfactory market reception of the title. Under the termination terms, Incuvo forfeits any entitlement to royalties from subsequent sales, while PCF assumes full responsibility for completing the final product and overseeing its commercial distribution. The report notes that PCF may still draw on Incuvo’s resources for any remaining development work, though no further financial compensation is prescribed. Reference is made to three earlier interim reports—numbers 46/2021, 42/2023 and 56/2023—that documented the project’s progress and financial status. The current settlement therefore closes the fiscal cycle for the “Bulletstorm VR” project, consolidating all outstanding developer costs into a single charge and establishing PCF’s exclusive control over the game’s post‑release lifecycle. The scope is limited to the Polish corporate entities involved, covering activities from the initial milestones through the January 2024 launch and subsequent termination.
PCF GroupMar 2024
Legal
Current Report No. 22/2023: Development and Publishing Agreement with Microsoft Corporation
PCF Group S.A., operating under the People Can Fly brand, has entered into a significant development and publishing agreement with Microsoft Corporation to produce a new AAA video game currently titled Project Maverick. This partnership, formalized on June 13, 2023, establishes a work-for-hire framework where the studio develops the title using intellectual property owned by Microsoft. The agreement aligns with the studio’s updated corporate strategy to pursue high-value collaborative opportunities with major industry publishers alongside its own internal projects. The financial scope of the project is substantial, with Microsoft providing a total production budget ranging between $30 million and $50 million. Funding is structured around a milestone-based payment system, where the publisher provides capital as the studio completes specific stages of development outlined in a detailed product appendix. This arrangement ensures that the entirety of the production costs is covered by the publisher, mitigating financial risk for the developer while securing a high-budget project for its production pipeline. The scope of this agreement covers the full development cycle of the game, though specific release windows or geographic target markets are not disclosed. The terms of the contract are described as standard for the industry, containing no unusual conditions or deviations from typical AAA publishing agreements. By securing this contract, People Can Fly reinforces its position as a leading global developer capable of handling large-scale, high-budget productions for major platform holders, leveraging its technical expertise within a secure financial framework provided by one of the industry's largest entities.
PCF GroupFeb 2026