Interplay quarterly report

Post by **King of Creation** » Fri May 21, 2010 12:04 pm

[ Company -> Update ] - More info on <a href="http://fallout.wikia.com/wiki/Interplay">Company: Interplay</a>

After previously filing for an extension, Interplay has now filed their quarterly report with the SEC. Not much of it pertains to the Fallout MMO codenamed Project V13, but the money-talk obviously has an impact on the game's development. You can find the entire submission file <a href="http://www.sec.gov/Archives/edgar/data/ ... m">here</a>, but I'll point out the most important items:
Interplay's current assets (cash and otherwise) total $647,000
Their current debt, however, is $2,742,000
They made a gross profit of $260,000 this past quarter
Of their operating expenses, $58,000 went to marketing and sale, $112,000 went to product developent, and a whopping $371,000 went to "General and Administrative" expenses. If I were an investor, that "general and administrative" figure would have me VERY worried.
That point segues nicely into this bit on their current legal proceedings:
<blockquote>
On September 8, 2009 Bethesda Softworks LLC filed a Complaint for Declaratory Judgment, Preliminary Injunction and Other Relief against the Company in the United States District Court for the District of Maryland. Bethesda seeks to terminate the rights Interplay holds to sell and develop certain FALLOUT(r)-branded video games, including an MMOG. Interplay disputes all claims raised by Bethesda and has answered the lawsuit and asserted Counter-Claims, including claims for Breach of Contract, Tortious Interference with Prospective Economic Advantage, Rescission, Accounting and Declaratory Relief seeking an award of damages and other relief. Interplay also seeks a declaration from the Court that it has not infringed upon the FALLOUT(R) mark and that it has satisfied the terms of the Trademark Licensing Agreement related to Interplay's production of a FALLOUT(R) massively-multiplayer online game. The Court denied Bethesda's Motion for Preliminary Injunction on December 10, 2009, a decision that Bethesda appealed. Bethesda's appeal subsequently has been dismissed. Interplay will continue to defend its rights and pursue its Counter-Claims against Bethesda.

The Company received notices from the Internal Revenue Service (“IRS”) that it owes approximately $242,000 in payroll taxes, payroll tax penalties, and interest for unpaid and late payment of payroll taxes for the years 2008, 2009 and 2010 which has been accrued as of March 31, 2010. The Company is in the process of negotiating a payment plan with the Internal Revenue Service.

The Company received notice from the Franchise Tax Board that it owes approximately $25,000 in franchise tax , interest and penalties for the tax year ending 2008 which has been accrued as of March 31, 2010. The Company has established a payment plan with the Franchise Tax Board.
</blockquote>
There is a lot more to sift through, so <a href="http://www.sec.gov/Archives/edgar/data/ ... .htm">head over here</a> and have a look.

entertainer · Post by **entertainer** » Fri May 21, 2010 1:22 pm

i might as well post tubgirl in this thread

Dreadnought · Post by **Dreadnought** » Fri May 21, 2010 2:41 pm

POOPERSCOOPER · Post by **POOPERSCOOPER** » Sat May 22, 2010 3:54 am

My guess is that the general and administrative is large because of all the court stuff they have been doing and having to hire lawyers.

Kashluk · Post by **Kashluk** » Sat May 22, 2010 6:11 am

Yeah, doesn't really matter how the costs are divided, they're still spending more than they are earning, that's all there is to it. I would be really concerned if they'd use 600.000 on marketing and only get that much sales as well.

Post by **King of Creation** » Sat May 22, 2010 7:01 am

Herve Caen also still gets a salary of like $200,000 a year.

jetbaby · Post by **jetbaby** » Sat May 22, 2010 9:49 am

King of Creation wrote:Herve Caen also still gets a salary of like $200,000 a year.

Would one of our dear investors please confirm the current rate of exchange between the heart and soul of Fallout's motherly company and Herve's vampiric embrace?