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While the details were contained in the financial stuff we posted about Interplay yesterday, most observers were paying more attention to the game-related news. After looking through the papers, Gamespot is highlighting that Interplay are three months behind on their rent:Besides highlighting the disparity between its cash balance of $1.2 million and working-capital deficit of $14.8 million, the notice also revealed interplay is facing eviction from its Irvine, CA headquarters. The filing states that "As of April 1, 2004, the Company [Interplay] was three months in arrears on the rent obligations for its corporate lease in Irvine, California." During the conference call, Caen revealed the rent for Interplay headquarters is around $150,000 a month, meaning the company currently owes its landlord approximately $450,000--nearly half its cash on hand. The article goes to to point out the lessor served formal notice to pay or surrender possession on April 9th, meaning this issue may already be resolved one way or the other. |
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