Interplay changes hands

Per

Per

Vault Consort
Staff member
Admin
On March 21, Interplay effectively changed owners as 58 million shares were bought from the bankrupt Titus Software by a Luxembourg company called Financial Planning and Development S.A. (or FPD for short). This can be learned from a SEC filing dated March 27.

Who is behind the purchase, how much they paid, what this means for Interplay operations, and whether Herve Caen will remain CEO, are questions we don't have the answers to for now (basically because Herve says he doesn't know, despite being the bankruptcy trustee of Titus). A likely case scenario was that this was actually a way for Caen to shift the majority stock away from Titus and into a proxy. In that scenario, Herve Caen would hold control of over 60% of Interplay stock, as this move also activates Caen's option to buy 6 million Interplay stock.

Look out for more news on this shortly, Interplay should file its 10-Q before the end of March.

Link: Changes in control of registrant filing
Link: Amendment to 2006 annual report filing
 
If anyone remembers Interplay's business plan, it proposed the "sale of Interplay Entertainment Corp common stock which will be admitted to trade on one of the Euronext exchanges. Proceeds will be used for the production of a Massively Multiplayer On Line Game based on Interplay's Intellectual Property: Fallout (the "Fallout MMOG")". Is this the next step in the inexorable master plan?
 
Basically, the deal is that Titus Interactive (which is bankrupt, so only around by name only) is selling its shares of Interplay to some Luxembourg financial company, thus bringing up more assets for Interplay to be able to make the MMO Fallout game.
 
Per said:
If anyone remembers Interplay's business plan, it proposed the "sale of Interplay Entertainment Corp common stock which will be admitted to trade on one of the Euronext exchanges. Proceeds will be used for the production of a Massively Multiplayer On Line Game based on Interplay's Intellectual Property: Fallout (the "Fallout MMOG")". Is this the next step in the inexorable master plan?
Click to expand...

No.

This is a change of hands, it doesn't actually benefit Interplay. It looks like Titus was forced by court to sell off its assets, which was a long time coming.

I don't know who FPD is, but they look like a fakey. Might just be the Caens buying the Interplay stock previously owned by Titus.

This also activates the old extra benefit for Herve at which he can buy 6 million stock for 3 cents a piece (they're currently at 7 cents a piece).

So looks very, very shady.

The filing is weird because according to it, these guys just came out of the blue and bought majority share in Interplay for an unknown amount to the registrants. This despite the fact that Herve has shown knowledge of the Titus sales earlier.

So that's impossible. Herve's still involved in Titus' liquidation. How the hell would he be completely in the dark about someone taking over part of Titus' assets?

All this hints at this being some behind-the-books dealing. I don't like it. I suspect this all means, put together, that Herve now has control of over 60% of Interplay stock.

FPD is cloaked in darkness. Can't even get the director's name without buying a report.

EDIT: anyway this timing is odd too, because Interplay should file its 10-Q with a few days now.
 
Interplay is like one of those super-zombies that happens to have the advantage of a game programming bug. You keep shooting it in the head at point blank with the shotgun, but it just keeps coming back up, oddly enough. :?
 
DarkLegacy said:
Interplay is like one of those super-zombies that happens to have the advantage of a game programming bug. You keep shooting it in the head at point blank with the shotgun, but it just keeps coming back up, oddly enough. :?
Click to expand...


Perhaps it managed to store up a few extra lives way back before it went downhill? :?
 
not that I know of, just something I hit on while searching FPD Luxembourg. They seem to have offices there and also go by FPD... I leave the real legwork to Kharny.

It's probably what you guys are speculating. Just Herve's own shell company.
 
"Financial Planning and Development" is such a generic name, even if they weren't in Luxembourg - land of the secret companies - they'd be impossible to find.
 
maybe the CIA bought up Interplay and they're going to use Herve's garage as a black site. Hopefully they'll water board him. :-D
 
Brother None said:
Luxembourg - land of the secret companies
Click to expand...
not quite as bad as Switzerland or Lichtenstein, but yeah, Luxembourg is pretty welknown in the financial circles.

the past decade however, quite a bit of laws have been passed to improve clarity in legal and financial matters, but it's still quite a swamp to drudge through.
 
As Brother None put it, FPD is cloaked in darkness and can't even get the director's name without buying a report.

When you coupled that with Herve's WELL ESTABLISHED wall of silence and secrecy, this whole thing fits Herve like a frog-skin glove.
 
You must log in or register to reply here.
Back
Top