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Concerning news about our #1 RPG company. Should the attempt to sell its subsidiary Shiny fail (news), Interplay may have to file for banktruptcy this year, since it cannot compensate the reported operating loss for 2001, which sum up to $41.3! Here's the press release:Interplay Entertainment Auditor Doubts Going Concern Ability
WASHINGTON -(Dow Jones)- Interplay Entertainment Corp.'s (IPLY) auditor has doubt about the company's ability to continue as a going concern, according to Interplay's annual report filed late Monday with the Securities and Exchange Commission.
Ernst & Young LLP cites Interplay's recurring losses from operations and its stockholders' and working capital deficits as reasons for this doubt.
This is the first time Ernst & Young has audited Interplay's annual report. Last year's report was audited by Arthur Andersen LLP and didn't contain a statement doubting the company's going concern ability.
In the company's earnings press release on March 11 , Interplay said its ability to continue as a going concern depends on securing external sources of funding to continue operations.
For 2001, Interplay reported a loss from operations of $41.3 million compared with a loss from operations of $8.4 million for 2000. |
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Interplay: Sell Shiny or call it quits!
