Interplay out of Cash, can not pay debts

[DarkUnderlord]

<strong>[Company -> Update]</strong>

Well, who'da thunk it? Interplay (who filed their quarterly report today) has finally spent that $7,000 cash they had in the bank. Here are some choice bits from <a href="http://yahoo.brand.edgar-online.com/fet ... =HTML">the quarterly report</a> itself:
<br><ul><li>We have been operating without a credit facility since October 2001, which has adversely affected cash flow. We continue to face difficulties in paying our vendors, and employees, and have pending lawsuits as a result of our continuing cash flow difficulties. We expect these difficulties to continue during the balance of 2004</li>
<br><li>Currently there is no internal development of new titles going on.</li>
<br><li>If operating revenues from product releases are not sufficient to fund our operations, no assurance can be given that alternative sources of funding could be obtained on acceptable terms, or at all. These conditions, combined with our deficits in stockholders' equity and working capital, raise substantial doubt about our ability to continue as a going concern.</li>
<br><li>There can be no guarantee that we will be able to meet all contractual obligations or liabilities in the future, including payroll obligations.</li>
<br><li>We currently have no cash reserves.</li></ul>
<br>There's some interesting detail about their lease arrangement too. I'll just copy and paste the whole paragraph here for you:
<br><blockquote>Our headquarters were located in Irvine, California where we leased approximately 81,000 square feet of office space. This lease would have expired in June 2006. On or about April 16, 2004, Arden Realty Finance IV LLC filed an unlawful detainer action against the Company in the Superior Court for the State of California, County of Orange, alleging the Company's default under its corporate lease agreement. At the time the suit was filed, the alleged outstanding rent totaled $431,823.
<br>
<br>The Company was unable to satisfy this obligation and reach an agreement with its landlord, the Company subsequently forfeited its lease and vacated the building. Arden Realty obtained a judgment for approximately $588,000 exclusive of interest. We also owe an additional approximately $149,000 for a total of approximately $737,000.
<br>
<br>We negotiated a forbearance agreement whereby Arden has agreed to accept payments commencing in January 2005 in the amount of $60,000 per month until the full amount is paid. We are uncertain as to any remaining lease obligation to Arden. We then signed a monthly rental agreement beginning in August 2004 at 1682 Langley Ave in Irvine, CA for our operations. The monthly payments are approximately $2,000 per month. This suit and interruption of our operations could cause substantial harm to our business.</blockquote>
<br>So Herve's cardboard box is costing $2,000 a month? I don't think Arden will be getting their $60,000 a month somehow either... Oh and there's just so much more too! <a href="http://yahoo.brand.edgar-online.com/fet ... e=HTML">Go on and have a read</a> or check out <a href="http://yahoo.reuters.com/financeQuoteCo ... l">Reuters analysis</a>.

[Dan_Wood]

ZOMG!!1!! SHOCKER!!!1!

Actually, I have to wonder... When did they plan on making a game to recoup their money?

[Mr. Teatime]

No titles at all? Insert joke about FOOL.

[fallout ranger]

FOBOS 2

[S4ur0n27]

Hervé is probably using Interplay has a front to sell illegal baguette bread.