Interplay: dreaming of FOOL, BK petition for over 750k

Brother None

Brother None

This ghoul has seen it all
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Interplay has filed its quarterly report at SEC. It contains little new info, but still:<blockquote>The Company is planning to exploit its Intellectual Property "Fallout" on Massively Multiplayer Online Gaming (MMOG) and is reviewing the financial avenues for funding MMOG.</blockquote>Confirming our earlier report on the forced bankruptcy petition hearing, Interplay notes:<blockquote>The Labor Board has fined the Company approximately $10,000 for failure to meet its payroll obligations and obtained in August 2005 judgments totaling $118,000 in favor of former employees of the Company , since this time $44,000 of the claims have been settled leaving, a balance of $74,000. On or about November 1, 2006, two employees joined Arden and Reflexive in the filing of an involuntary bankruptcy petition against the Company. The petition is pending before the bankruptcy court and the Company is opposing it.</blockquote>Interplay owes Arden Realty ($588,000), Reflexice Entertainment ($110,000) and its former employees (up to $74,000) a combined $772,000.

Interplay had a net revenue of $967,000 over 2006. It accounted $4,380,000 income:<blockquote>Other income consists primarily of settlement in the amount of approximately $310,000, reversal of reserves in the amount of approximately $2.2 million, reduction of accrued royalties in the amount of $810,000, reversals of accounts payable in the amount of $1.2 million, interest expense in the amount of $135,000.and additional miscellaneous income.</blockquote>"Net income" over 2006: $3,079,000. Capital deficiency at the end of 2006: $8,098,000.

Link: Interplay 10-K filing
 
What was interesting/surprising in this filing is that Herve said that Interplay is expecting to have much more cash flow this year and increased revenue from both PC and console games. For the past several years, Herve has been saying that Interplay will be operating with a reduced cash flow. He also said that Interplay is now able to meet all current obligations and can continue as is until 2008.
 
troybilt said:
What was interesting/surprising in this filing is that Herve said that Interplay is expecting to have much more cash flow this year and increased revenue from both PC and console games.
Click to expand...

And you believe him?

Are you for serious?

troybilt said:
He also said that Interplay is now able to meet all current obligations and can continue as is until 2008.
Click to expand...

Assuming they won't lose the BK hearing...which actually is pretty likely, you know.
 
The stock is currently shooting up on the news. Looks like there are many people who believe old Herve.

It would be pretty ballsy to lie in a formal SEC report, but I guess one never knows, as it has happened before with other companies. We shall see...
 
Update,

The stock is shooting up on additional news. Interplay just sold the rights to Fallout for around 6 million.
 
Tidies things up a bit, doesn't it? Fallout is rid of Interplay and goes to Bethesda, who were going to make the games anyway. No one cares about FOOL.
 
It seems Herve is still involved.

To retain its license rights under this Agreement, Interplay agrees that (i) full-scale development of its FALLOUT MMOG will commence within twenty-four (24) months of the Effective Date of this Agreement.

Interplay will have secured financing for the FALLOUT MMOG in an amount no less than US$30,000,000.00 ("MINIMUM Financing").

When Loser Herve fails, it is only then will Fallout be free of his clutches.
 
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