f13.net forums - Interplay shut down? Rumors are fun.

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April 27, 2024, 12:15:15 AM

we're back, baby

Looked like to me they HAD 1.2 mill left in mid April unless the books were tampered with and they really had nothing at that point in time or saving the 1.2 mill to run run away.

1,200,000 supposed cash on hand in mid April

- 79,000 fine for not paying employees
-179,000 back taxes to the state
-432,000 unpaid rent
-156,000 unpaid royalties to BioWare

= $432,921 left, for employee salaries for at least April and May (not considering any other bills and investors they owe).

Don't forget whatever it costs them to reinstate their worker's comp insurance which got them shut down by the state in the first place.

Quote from: Mi_Tes

The employees said they had not been paid in for "over a month", so I presume they were paid 1-2 times after the mid-April financials. They had 120 people on the payroll at that time and cut it down to 80. If they gave the people they let go 2 weeks pay as well, and they're making about $60K a year, then that's $500,000 for those 2-4 weeks right there. So they paid that, and some of their operating expenses, but not their rent, and that probably left them with less than $500,000. So they probably could have paid employees in May, but if the cash flow was uneven or they were trying to work a deal, they might have needed that cash to keep operating long enough to receive new investment.

The unpaid rent is very unusual, especially since it seems like the landlord wasn't willing to cut them any more slack. The unpaid back taxes is really not that big a deal, and the royalty disagreement isn't really that big a deal... that's not a very big amount, and could simply be a result of a contract dispute rather than an attempt to avoid a payout because of financial problems. The lawyers fees alone will probably wind up more than the that.

Bruce

damn, I was really looking forward to Fallout 3, the Fallout series belongs somewhere on top 5 ever imo. Thing is I would pay 50 quid for a Fallout 2 expansion, and I would be happy if they just gave me some new areas to play around with and a little story. I finished the second installation just a few months back and it's still hot stuff, even by today standards.

More dirt on Interplay at Gamespot...

"Gamespot reported today that Interplay's CEO Herve Caen may have succeeded in acquiring workers' compensation insurance for the company, meaning that employees can now return to work at it's Irvine offices after the government forced it's closure on Friday.

Also mentioned were reports from The Orange County Register today which suggest that Titus Interactive, Interplay's majority shareholder has declared bankruptcy and "will enter into a period of observation during which it intends to continue negotiations on the possible sale of assets".

Exactly which assets are being sold was not disclosed. " -Quoted from GameDev.net

Interplay has been a mess for quite a while. I made the mistake of buying into Interplay back when Run Like Hell was released and getting rave reviews. I got in around .22 it ran up to almost .60. I of course forgot about the sell high part and I'm now sitting on shares that aren't worth shit. Luckily I didn't have much money at the time and only bought 2500 shares.

Interplay is now working with S&G capital in order to try and sell a few things off to get some money to stay afloat. I'm hoping that Titus is forced to sell Interplay completely to someone else so I'll at least get a little bit out of the shares I still have. They do still have some IP that may be worth something: Fallout, Baldur's Gate, Exiled License and Kingpin are the main things they'll be trying to sell.