GRAVITY CO LTD SPONSORED ADR (GRVY)

[riskanalyst]

Not correct. Their first product was Ragnarok. It came out in 2002. It was fairly successful, however their second generation of the product has been plauged with delays. It is scheduled for launch in mid 2010. Ice Age Online is a newly developed online game that will be launched late this year. They're game Requiem seems to be picking up some steam, based on the 2007 launch and the growth of revenues in the established markets for this game. The big hitch will be the switching from the old 2D game of Ragnarok to the new 3D game of Ranarok 2. Considering they've taken this long w/ the release, hopefully they can convert old users to the new platform. Just like how Windows converts old users of Windows to the new Windows platform. The capabilities have to be advanced enough and bug free so people will be incentivized to switch or convert back to their platform. With a large cash cushion, there is some margin of safety. I've positioned myself based on these dynamics.