The pre-revenue game developer, whose auditor has flagged substantial doubt about its survival, estimates its cash covers only about three more months.

July 13, 2026

The RoyaLand Company Ltd., a Bermuda-incorporated developer of a royalty-themed online game that has yet to earn revenue, has acquired 90 percent of Savoia 1908 Football Club S.r.l., bolting a professional Italian football team onto its business in an all-stock transaction with a seller tied to its chief executive.

The deal, completed May 27, 2026, hands RoyaLand control of Savoia 1908 FC, a club recently promoted from Italy’s amateur Serie D to the professional third tier, Serie C. RoyaLand paid with seven million of its Class B common shares — five million to CRH Royalty S.r.l. and two million to the club itself. CRH, which keeps the remaining 10 percent, is 24 percent owned by RoyaLand chief executive and director Prince Emanuele Filiberto di Savoia, a grandson of Italy’s last king. The parties also entered a shareholder agreement governing the club and a lockup covering the shares paid to CRH.

From a single game to two segments

The transaction remakes a company that until now had been built entirely around an unreleased product. RoyaLand, quoted on the OTCQB market under the symbol RLNDF, now describes itself as operating two segments: professional football club ownership and digital entertainment and gaming.

The gaming venture centers on TheRoyal.Land, a mobile-first massively multiplayer title in development since 2023, alongside a planned augmented-reality companion app and streaming media assets grouped under a broader myRoyal.World concept. The company has completed a playable beta version but says the game remains in development, has not begun commercial operations, and will cost an estimated $500,000 to $1 million to ready for beta release. Its stated design leans on player-built virtual land, proprietary avatars and in-game reward currency, monetized through a freemium model with premium content. Management frames the augmented-reality app, which it says can be built far more cheaply and quickly than the full game, as a way to generate early revenue and cultivate a community, targeting a tech-oriented audience aged 18 to 45 drawn to what it calls cultural-tourism gamification.

Betting on the Savoy name

RoyaLand is positioning the newly acquired club around the heritage of the House of Savoy, whose historic coat of arms Savoia 1908 is authorized to use. Management argues the Savoy name confers a national profile broader than that of many local-only Serie A sides, pointing to polling and statistical data it cites for the proposition that roughly 12 percent of Italy’s population feels a cultural affinity for the royal house, which it translates into an addressable audience of more than seven million and a likely market of about two million.

Since CRH bought the club in 2023, it has been restructured, brought under professional management and rebranded under the prince’s leadership, finishing first in its division in the 2025/2026 season. Beyond its promotion, the club has assembled a set of commercial and community assets:

• a Nike sponsorship beginning July 1, 2026;
• an eSports team the company describes as undefeated across six competitions; and
• a youth academy of more than 250 athletes across eleven age-group teams near Naples, presented as a social counterweight to organized crime in the region.

Valuing a club with thinly traded stock

The economics of the deal rest on an unusual foundation. RoyaLand’s Class B shares trade thinly: management noted that only 5,600 shares changed hands in the 90 days before the acquisition, all at $0.85, and concluded this did not amount to an active market under international accounting standards. To value the club, the company relied on an April 2026 Deloitte report that put Savoia 1908’s best-case enterprise value at roughly 5.9 million euros, or about $6.9 million at the acquisition-date exchange rate.

On a preliminary basis, the purchase is expected to add intangible assets to RoyaLand’s books, chiefly a brand valued at more than $8.2 million, along with player contracts and goodwill, offset by a sizable theoretical deferred tax liability that the valuation described as not actually owed. The company stressed that the allocation is preliminary and could change materially once a final valuation is complete.

Going-concern doubt and a months-long runway

The expansion arrives with RoyaLand’s finances under visible strain. Cash fell to $31,710 at December 31, 2025 from $225,161 six months earlier, while the accumulated deficit climbed to roughly $3.5 million. The company reported a net loss of $630,485 for the six months ended December 31, 2025, modestly wider than the loss a year earlier, even as general and administrative expenses fell by about half.

The current-period result was weighed down by a $332,000 loss on the extinguishment of debt tied to Class B shares issued to its chief technology officer in settlement of amounts owed, and by $142,000 of share-based compensation, including 100,000 shares issued to a newly appointed director. RoyaLand’s independent auditor has expressed substantial doubt about the company’s ability to continue as a going concern, and management estimates its current resources cover only about three more months of operations.

Non-cash share issuance has become a recurring feature of how RoyaLand pays its bills. Beyond the acquisition consideration and the settlements with insiders, the company has leaned on equity to compensate service providers, and its founders have verbally agreed to cover any shortfall until additional funding is secured. During the period, RoyaLand also discontinued OAPLT, a French digital and creative studio it acquired in 2022, after concluding the unit no longer fit its long-range plans; the discontinued operation contributed only minor losses.

Funding two ambitions at once

On the funding side, RoyaLand raised $500,000 in an April 2025 private placement and, after a gap, launched a further offering of Class B shares at $1.00 each, seeking up to $1 million. As of the report it had raised $150,000 in gross proceeds from that offering, with Boustead Securities acting as placement agent and collecting a 7 percent success fee, a 1 percent expense allowance and five-year warrants equal to 7 percent of the shares sold.

The combined picture is of a micro-cap pursuing two capital-intensive ambitions at once: a football club climbing Italy’s league pyramid and an unreleased game, both funded from a cash balance measured in the low tens of thousands of dollars. On a pro forma basis, folding in the club would have deepened RoyaLand’s operating losses substantially, reflecting Savoia 1908’s own cost base. Management said it intends to seek further capital through public and private offerings and debt financing, while acknowledging that such funding may not be available on acceptable terms, if at all, and that failure to raise it would threaten the company’s ability to continue operating.