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Dhruin
Stranger In A Strange Land
Joined: 20 May 2002
Posts: 1825
Location: Sydney, Australia |
| Interplay: Late 10-K Filed |
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Interplay has finally filed their late 10-K paperwork, which recently forced a change to the stock ticker symbol to indicate their delinquency. Many of the rumours flying around the 'net have been verified as you can see from this excerpt:<blockquote><em>As of April 1, 2004, we were three months in arrears on the rent obligations for our corporate lease in Irvine, California. On April 9, 2004, our lessor served us with a Three-Day Notice to Pay Rent or Surrender Possession. If we are unable to pay our rent, we may lose our office space, which would interrupt our operations and cause substantial harm to our business. We have received notice from the Internal Revenue Service ("IRS") that we owe approximately $70,000 in payroll tax penalties. We estimate that we owe an additional $10,000, which we have accrued in penalties for nonpayment of approximately $99,000 in Federal and State payroll taxes, which were due on March 31, 2004 and is still outstanding. We were unable to meet our April 15, 2004 payroll obligations to our employees. Our property, general liability, auto, workers compensation, fiduciary liability, and employment practices liability have been cancelled.
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<br>We are currently in default of the settlement agreement with Warner and have entered into a payment plan, of which we are in default, for the balance of the $0.32 million owed payable in one remaining installment. On or about February 23, 2004, we received correspondence from Atari Interactive alleging that Interplay had failed to pay royalties due under the D&D license as of February 15, 2004. If we are unable to cure this alleged breach of the license agreement, we may lose our remaining rights under the license, including the rights to continued distribution of BALDUR'S GATE: DARK ALLIANCE II. The loss of the remaining rights to distribute games created under the D&D license could have a significant negative impact on our future operating results.</em></blockquote>Read the <a href="http://biz.yahoo.com/e/040427/iplye.ob10-k.html" target="_blank">10-K</a> filing at Yahoo. |
Wed Apr 28, 2004 1:55 pm |
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Garrett
Joined: 13 Jul 2001
Posts: 74
Location: Munich, Germany |
wow...sounds very sad 
Even if I'play is not as good as it used to be, it would sadden me see another of the once big companies going. |
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Wed Apr 28, 2004 1:56 pm |
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goshuto
Wanderer
Joined: 29 May 2002
Posts: 1142
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This is the saddest part of the report
quote:
Originally posted by Interplay 10-K
We were unable to obtain the required waivers within the permitted time period and as a result have lost rights to publish BALDUR'S GATE 3 and its sequels on the PC. (...) During fiscal years 2003, 2002, and 2001, the video and computer games industry has experienced a platform transition from the PC and PlayStation to the current generation platforms PS2, Xbox, and Nintendo GameCube. (...) As the market continues to shift to the current generation systems, our sales of PC based products have been declining. We expect this decline to continue in fiscal 2004. As a result, we do not anticipate that losing the rights to publish BALDUR'S GATE 3 and its sequels on the PC will have a significant impact on our future operating results.
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Wed Apr 28, 2004 2:17 pm |
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araczynski
Eager Tradesman
Joined: 03 Apr 2002
Posts: 48
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they deserve to 'die' for their idiotic management. completely clueless idiots who will run into the ground any other ship they get on.
good riddance. |
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Wed Apr 28, 2004 2:35 pm |
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Jay
Fearless Paladin
Joined: 07 Jul 2001
Posts: 245
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'We expect this decline to continue in fiscal 2004. As a result, we do not anticipate that losing the rights to publish BALDUR'S GATE 3 and its sequels on the PC will have a significant impact on our future operating results'
Yeah, because Baldur's Gate 3 would have been such a flop. Idiots, I agree with araczynski. |
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Wed Apr 28, 2004 3:13 pm |
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Guest
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Interplay's management deserves to be sued and get their personal assets confiscated ... Interplay merely dieing is no skin off their back. |
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Wed Apr 28, 2004 3:30 pm |
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Pinky's Brain
Eager Tradesman
Joined: 28 Nov 2002
Posts: 40
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The sooner they die the better, maybe if they go bankrupt really quickly Atari can buy the Project Jefferson codebase cheaply. |
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Wed Apr 28, 2004 3:33 pm |
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Wolfgarou
Guards Lieutenant
Joined: 29 May 2003
Posts: 163
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Ooo..don't die now, Interplay! I want to see the next Descent game 1st 
_________________
The world is small, nasty and complicated, and everybody dies alone... - Sam Fisher |
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Wed Apr 28, 2004 4:38 pm |
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Arma
Mysterious Lady
Joined: 24 Oct 2003
Posts: 1230
Location: in the middle of hell |
Weeel, I admit that at some point this year I wanted them to die sooner, but as I saw that they had a nice plan of future games (and finally publishing Fallout 3 although done by another company) and seeing a new Earthworm Jim title wouldn't have be bad (One of the Jim titles was one of the first games I ever played so I loved it very much). Right now I don't want to seem them go and it really would be sad if there is no more interplay.
As for BG 3 and Jefferson project - I actually don't want Atari to finish Jefferson. Not that I don't like it or something but there are some reasons I don't want this to happen. Here's some of them :
- I don't like Atari, they are one of the worst companies around these day. They are even more money hungry than those bastards from EA, but as EA seldomly release a buggy, unfinished game these day, where as Atari is releasing crap all the time, and by crap I don't mean stupid games, but awfully buggy ones. It ages since I played something good from Atari
- WotC already spoiled Jefferson. I don't thing that changing the publisher would change things much.
- Whoever is hired to finish Jefferson, they are not BIS. And no matter how talanted they are, this Jefferson will not be the same Jefferson, as if it was finished by Black Isle and the team that was making Jefferson/BG3 in the first place. Although it would be sad if the work the people at BIS did for quite sometime I guess (asJefferson was reported to be 80 % finished) I think if BG3 is to be published, that is is done from scratch, not finishing Jefferson. |
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Wed Apr 28, 2004 5:34 pm |
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Eevle
Guest
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I agree that Interplay is making noises like it has woken up and seen the light, but the damage is done. The tubes down which Interplay will be flushed have been greased by much better companies that have gone before. |
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Thu Apr 29, 2004 10:34 pm |
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Guest
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Its funny that after thier shift to crap console games, they have experienced something around a 19 million drop in revenue. I wonder if this market shift isnt more a result of some corporate eggheads having their heads too far up their asses than anything else. |
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Fri Apr 30, 2004 4:12 am |
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