Chapter 105
Chapter 105: <Sudden decline>
Gamers were happy with the change in MOX’s executives.
A new rule was set where users’ complaints and demands were addressed.
Most of all, all the castles’ tax rates were lowered. Many gamers finally returned to the game and MOX’s stock price continued to go up.
It also helped that Jung Jinsup and his father bought huge lots of stocks in an attempt to get the company back.
After a few days, the price finally went up to $20.
A notice of disclosure was made one day.
“Change in major shareholder equity: Jung Hyosung 34% -> 36.7% (investment purpose)”
Woosung knew Jung Jinsup probably owned a significant number of shares by now. Following the 5% rule, Woosung expected a notice soon.
At that time, the father and son will call for another shareholder’s meeting for a counterattack. Woosung remembered his recent phone call with Alex.
“Boss, everything’s in order. All you have to do now is sign off.”
“Alright.”
It was the order to transfer Legend’s and the new developing game’s IPs to DNK.
Woosung was holding off on signing the documents until Jung Jinsup announced he owned 5% of the shares.
Woosung waited like a predator prowling for an unsuspecting rabbit.
Meanwhile, the stock price continued to soar.
Suddenly, Woosung’s assistant came into his room in a hurry.
“Sir, Daeyang will be releasing its new Android-based smartphone named The One. The press release is to take place at their headquarter soon.”
Woosung was expecting this news.
He ordered quickly, “Arrange a press release in Silicone Valley at the same time for Blue S2.”
His assistant moved posthaste to make calls. Blue S2 was completed a long time ago, but Woosung had been waiting to release it until Daeyang finished its new phone.
Jung Jinsup and his father talked quietly.
“Your friend Kang Woosung is amazing. It is not easy for even the best of us to come up with 50 million dollars this fast.”
“He made 600 million dollars from Blue S’s sales. 50 million is nothing to him.”
Jung Hyosung laughed.
“Wow, you are so smart for having a friend like that. Is he a classmate of yours from Seoul University?”
“No. I met him at the KYLO meeting. We hit it off right away.”
“Haha, good job. It is always smart to have friends like him when you are a businessman. You never know when you’ll need help.”
“That’s exactly why I befriended him.”
“Great.”
Jung Hyosung looked at his son proudly, but his gleeful countenance change into that of a frown suddenly.
“But father, the stock price has gone up so fast.”
“It will be ok till it hits $30. I looked into the current situation and found out that DNK has no intention of operating MOX. DNK is apparently one of those companies that buys cheapened companies and sell after normalizing it.”
It was a false rumor Woosung had Alex spread. He actually had an opposite intention.
Jung Jinsup asked, “So after the hostile M&A, they improve the company and sell it at a profit?”
“That’s right.”
“…But you are one of the major shareholders, which means the company will end up back in your hands.”
“Exactly.”
Jung Jinsup said angrily, “When we get back the company, the first thing I’ll do is get rid of Kwak Mingu.”
“I agree. We’ll start fresh.”
Daeyang headquarter.
Choi Taemin walked in front of a giant screen and announced.
“Hello everyone. I am Daeyang System’s Choi Taemin.”
The screen changed to a photo of Daeyang’s new phone, The One.
“It is my honor to introduce you our very first Android-based smartphone, The One. It has a memory of 512MB, many amazing apps, and a 4.0-inch screen.”
Choi Taemin described the phone in detail proudly.
Meanwhile at the same time, Woosung was busy releasing Blue S2 in Silicone Valley. He explained in front of the reporters.
“Blue S2 will become the new icon of innovation. Everything has been upgraded from its first version. You will now be able to use your phone as a sub-computer, and we aren’t done yet. We will not stop here; we’ll continue to improve our product until our smartphones can replace your desktop completely.”
A few sample phones were then handed to the reporters for monkey testing. After trying out the phones, the reporters became excited. They started asking questions to Woosung.
“Currently in Korea, Daeyang is in the process of releasing The One, which will be your competition. How do you feel about that?”
“Competition is a good thing. I believe in a fair rivalry.”
After answering all the questions, Woosung made his last comment.
“I still haven’t shown you the best part of Blue S2.”
Woosung placed his thumb on the home button.
It rang, and the phone unlocked.
“Fingerprint recognition function. You no longer have go through the inconvenience of inputting your pattern or password.”
The reporters’ eyes widened in surprise.
At the same time in Korea.
After Choi Taemin’s introduction, special guests TK Telecom’s CEO and Andy Rubin appeared.
TK’s Jun Taewon announced, “This is the best cell phone out there. Every great technology from Daeyang has been placed into this product.”
Next was Andy Rubin, who delivered a prepared speech. “With the cooperation from Daeyang, we were able to create the best phone Android can achieve.”
LU Telecom CEO also added, “Just like the name, it will be the one the customers choose.”
Suddenly, one of the staffs approached Choi Taemin and whispered, “Sir, KND just announced fingerprint recognition function on their cell phone.”
“What? Why didn’t we know about this?”
“That is…we missed it.”
“I’ll talk to you later.”
At the same time in Silicone Valley.
Woosung’s phone vibrated. It was a text from Alex.
“Jung Jinsup just acquired 7%. A notice will be released soon.”
Woosung checked online.
“Share major hold report”
“Jung Jinsup 7% acquisition for an investment purpose.”
It was the news Woosung was waiting for. He called Alex.
“Do it.”
“Yes, sir.”
“News release”
“Legend 1,2 IPs have been transferred to DNK.”
“Any game-related operations to be outsourced to DNK.”
Immediately, MOX stock price dropped 15%, and it continued to decline the next day.