Netcapital Portfolio Company Acquires Spellbook Studio

Rhea-AI Summary

Netcapital Inc. (Nasdaq: NCPL) announced that its portfolio company, Zelgor, has acquired Spellbook Studio, the creators of The Infinite Black franchise. The Infinite Black is a space combat Massive Multiplayer Online game (MMO) that pioneered Android MMO gaming in 2011.

The franchise consists of two free-to-play mobile games where players manage spaceship fleets and engage in battles. Revenue is generated through the sale of virtual 'credits' used for ship upgrades. The games currently maintain a community of 120,000 players.

According to Zelgor CEO John Fanning Jr., this acquisition is expected to make Zelgor's ongoing operations sustainable through the revenue generated from the established franchise.

Positive

• Acquisition of revenue-generating gaming franchise with 120,000 active players
• Expected to achieve operational sustainability through acquisition revenue
• Established monetization model through virtual credits

Negative

• Revenue figures and acquisition cost not disclosed
• Dependence on free-to-play model with optional purchases

BOSTON, MA, April 23, 2025 (GLOBE NEWSWIRE) -- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced that Netcapital portfolio company, Zelgor, has acquired Spellbook Studio, creators of The Infinite Black & The Infinite Black 2.

The Infinite Black franchise is a space combat Massive Multiplayer Online game (MMO) and was one of the first MMO's to be released on Android in 2011. Players build, collect, manage, and battle their fleet of spaceships as they fight for control of The Infinite Black. Both games are free to play on mobile and generate revenues through the sale of virtual "credits" which can be used to purchase ship upgrades.

“With a community of 120,000 players, this is an opportunity for Zelgor to own and operate a franchise with a devoted following,” said John Fanning Jr., Zelgor CEO. “Through this acquisition, Zelgor now expects to generate enough revenue to make its ongoing operations sustainable.”

The Infinite Black 2 is available for download using the following link: https://linktr.ee/Zelgor

About Zelgor

Zelgor is an interactive entertainment company creating a virtual universe around its unique media franchise, called the Noobs, an army of outlandish aliens exploring the universe. Zelgor investors include famous venture capitalist Tim Draper, co-creator of Guitar Hero, Kai Huang, and the founders of Napster. The Zelgor team holds real-world experience working on successful games like The Sims, Bioshock Infinite, Dungeons & Dragons Online, and many more. To learn more about Zelgor Games, visit zelgor.com.

About Netcapital Inc.

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The Company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies. The Company’s funding portal, Netcapital Funding Portal, Inc. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association. The Company’s broker-dealer, Netcapital Securities Inc., is also registered with the SEC and is a member of FINRA.

Forward Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Contact

800-460-0815 
ir@netcapital.com

FAQ

What is the strategic importance of Zelgor's acquisition of Spellbook Studio for NCPL?

The acquisition provides Zelgor, a Netcapital portfolio company, with a revenue-generating gaming franchise with 120,000 players, potentially making its operations sustainable.

How does The Infinite Black franchise generate revenue?

The games are free to play but generate revenue through the sale of virtual 'credits' that players can use to purchase ship upgrades.

What is the current player base of The Infinite Black franchise?

The franchise has a community of 120,000 players.

When was The Infinite Black first released and what makes it significant?

The Infinite Black was one of the first MMO games released on Android in 2011, pioneering mobile MMO gaming.